The Aging Society's Growing Need for Remodeling

According to research analyst Abbe Will: "Over the coming decades, the number and share of U.S. households age 65 and over will rise dramatically as the oldest members of the baby-boom generation reach retirement age. Inevitably, with increasing age comes the growing presence of disability and problems using components of the home without assistance. Surely, some aging households will look to move into homes that are better suited to their changing needs, but the majority of older households continue to plan to “age in place.” Since much of the housing stock is currently ill-equipped with even basic accessibility features, older homeowners aging in place will need to invest in retrofitting their homes in order to age comfortably and safely. New research released by the Joint Center sheds light on the implications of an aging society for the home improvement market by analyzing the remodeling activity by older owners and estimating the projected demand for and supply of homes with basic accessibility features in the near future."

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