Leon Meekcoms on Housing and Baby Boomers
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Leon Meekcoms on Housing and Baby Boomers
Overview
Recently, the Social Security Administration began distributing checks to the Baby Boomer generation, sparking keen interest from financial advisors and real estate investors. This demographic, comprising over 78 million people according to the U.S. Census Bureau, holds more wealth than any previous generation and stands to inherit even more. Leon Meekcoms, President of Parkbridge Capital Group, Inc., highlights how this wealth and increased life expectancy are shaping new housing trends.
Baby Boomers: Influential Trendsetters
Unlike traditional "snowbirds," Boomers are more active and remain mindful of expenses, planning for potential decades in retirement. "While Boomers are affluent, they are smart about their investments and spending," says Meekcoms.
One notable trend among Boomers is the rise of "splitters," or those maintaining dual residences. Many spend half the year in a northern location and the other half in the south. Additionally, a significant number travel full-time in RVs or split their time between RV travel and a home base, often in manufactured home communities or RV resorts.
Parkbridge Capital's Strategic Focus
This trend has led Parkbridge Capital Group, Inc. to concentrate on acquiring manufactured home communities and RV resorts. "The mobile lifestyle is appealing due to its lower costs," Meekcoms explains. By investing in and upgrading these properties, the company aims to boost investor returns while providing renters with exceptional living environments.
Parkbridge Capital has positioned itself advantageously in response to the Baby Boomer wave. With a limited number of high-quality manufactured home communities and RV resorts available, supply and demand pressures are expected to drive prices up. Meanwhile, these properties also attract Americans preferring to vacation locally or stay domestically. "High gas prices are prompting people to opt for resorts within driving distance or places where they can reside and enjoy seasonal recreation," Meekcoms notes.
Insights from Within
As a Boomer himself, Meekcoms understands the desires of this generation firsthand. "We have more time, money, and better health prospects than previous generations," he shares. "Our company’s properties cater to Boomers seeking a flexible, cost-effective lifestyle."
By aligning its investments with the needs of mobile, budget-conscious Boomers, Parkbridge Capital Group continues to thrive, offering attractive options for living and recreation.
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