Baby Boomers Reclaim Independence in the Empty Nest but Del Webb Survey Shows `Boomerang' Kids May Re-Feather Their Future

Business Wire, June 29, 2004

BLOOMFIELD HILLS, Mich. -- Their "Someday Stage" in life has finally arrived.

The nation's aging Baby Boomers have supported children their entire adult lives, but soon those kids will have flown the coop. These "Flower Children" of the '60s are fast becoming 21st Century "Empty Nesters" and they say they're ready to reclaim their independence.

In a national survey released today by Del Webb, the nation's leading builder of active adult communities, Baby Boomers throughout the United States were polled on their feelings about becoming Empty Nesters and its impact on their retirement plans. Del Webb, a brand of Pulte Homes, has been conducting annual Baby Boomer Surveys since 1996.

The 2004 Del Webb Baby Boomer Survey reveals these findings about Boomers and the Empty Nest:

--71 percent say parenting was a wonderful experience, but it wasn't easy; roughly 19 percent admit it was more challenging than they expected.

--58 percent are emotionally prepared for the kids to leave the house.

--57 percent feel an increased freedom to be themselves.

--26 percent felt "like a newlywed once again" after the kids left home for good.

--36 percent will move to a new home when they become Empty Nesters.

--26 percent are considering purchasing a home in an age-qualified active adult community.

--25 percent expect their adult children to move back in with them at some point; but 28 percent plan to make those children pay rent.

--31 percent had no debt associated with their children when the kids left home.

--Disposable income increased for 67 percent of Boomers after they became Empty Nesters; 60 percent plan to save the new-found wealth, and about half plan to spend it traveling.

"We are seeing an increasing number of Boomers who are Empty Nesters buying in Del Webb's active adult communities," says Dave Schreiner, vice president of active adult business development for Pulte Homes and Del Webb. "These people are not retired, but their children have left home and they now want to take full advantage of a resort-like lifestyle. They are beginning their 'someday stage' even before they quit working for good."

Schreiner estimates that 20 to 50 percent of customers purchasing a home in an age-qualified Del Webb active adult community don't plan to retire when they move in. The number is largely dependent on the availability of full or part-time employment nearby. Buyers also are continuing to work because they are younger. Since last March, 50 percent of new home buyers in Webb's active adult communities who answered buyer profile questions were under age 60.

The Baby Boomer Survey, conducted in April and May 2004, reveals Boomers are embracing the idea of Empty Nesting, the stage in life when children move out of their parent's home. While Boomers have an array of emotions about the situation, most look forward to getting back to what they were always accused of being - the "me generation."

"Many Boomers think they are going to be very upset, but when it happens they are very much relieved when their children leave home," says Linda Burghardt, author of The Happy Empty Nest. "They know they have done a good job in parenting and now they can get their own lives back. Members of the Baby Boomer generation have very high expectations for the Empty Nest."

The term "Baby Boomer Generation" defines those born between 1946 and 1964, or those who are now 40-58 years old. The huge population 'boom' came after American soldiers returned from World War II and prior to the widespread use of birth control in the mid 1960s. As America's 76 million Boomers move from parents, to Empty Nesters, to retirees, to old age, they continue to have a profound impact on social, political and economic issues.

Boomerangs:

Although Boomers like the idea of the Empty Nest, their "alone time" may not last long. In fact, 25 percent anticipate their adult children will move back in with them. Of Boomers polled, 15 percent have grown children who already returned to the nest. Called "boomerang kids," this is a growing social phenomenon.

Julie Tillson, 57, a high school teacher and resident of Del Webb's Sun City Lincoln Hills in Northern California, has experienced the boomerang phenomenon first hand. After going away to college for several years, her daughter returned home. "Stephanie moved back in with us for three months," Tillson said. "She needed to because of financial reasons. It was horrible at first. She felt like a failure and it was hard. But by the time she moved out again, we were sorry to see her go."

Today more than 25 percent of Americans ages 18 to 34 live with their parents, according to U.S. Census figures. For 18 to 24-year-olds, 56 percent of men and 43 percent of women live with one or both parents. These numbers may increase too. According to a job search Web site, 62 percent of college students say they expect to live at home after graduation.

On "boomeranging", results of the Del Webb survey show the following among Boomers:

--65 percent would "be happy" to help if their grown kids needed to move back in.