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The US labor pool will grow 75% more slowly than usual over the next decade due to heavy retirement. This will:
- Bring unemployment down quickly, even if we attract more people back to the labor force, and
- Create wage inflation as employers finally have to compete for talent
For years, the US has been adding 1.8+/- million eligible people to the labor pool:
Demographics tell us that eight million more people should retire in the next decade than in the last decade. You had better pay attention to the retirement housing market!
While the active adult (55+ age-restricted, amenity-rich) home market was brisk everywhere last year, The Villages in Florida spun into a whirlwind. With 3,419 sales—up 20% from the prior year—The Villages once again outsold every other master-planned community in the country. That is an average of more than nine new home sales per day!