Baby Boomers Creating Stay-At-Home Biz

Monday, 4 Dec 2006 | 2:15 PM ET

Baby boomers who don’t want to retire to a distant locale (some place warmer or cheaper) may be causing a long-term drag on the U.S. housing sector – and the economy. According to a survey done by Home Depot – 89% of older Americans want to stay in their present houses for as long as possible. But companies like Home Depot are seeing a business opportunity in reaching out to boomers who want to stay put. CNBC’s Jane Wells reports in our regular series – Boomer Nation.

Boomers Staying Put
New research shows aging baby boomers prefer to stay in their current homes. Jane Wells, CNBC Business News Reporter, has the details.

Home Depot is selling products that make typical household appliances, cupboards and fixtures more senior-friendly. The company now offers soft-fall showerheads for sensitive skin – under-cabinet lighting to lessen eye strain – and motion-sensitive faucets for arthritis sufferers. Pulte’s Del Webb division also is focusing its development building on these ideas.

According to that Home Depot survey – suburbs will now gray faster than cities. The Mortgage Bankers Association says this will have a high impact on real estate as boomers retire. The most dramatic effects will be seen in Nevada, Colorado and Georgia.

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Kenny Polcari