By 2050, there will likely be double the number of adults over 50, which would total as many as 3.2 billion people, according to the American Association of Retired Persons (AARP) and research firm Oxford Economics. Fast Company writer Ben Schiller reports on the findings, which point to a future "longevity economy," where the 50-plus demographic controls 83% of wealth and more than 50% of spending in the U.S.
As you would expect, the AARP argues that we should pay more attention to the needs of the "Longevity population" and come up with "dynamic approaches in understanding and delivering the types of goods and services demanded." What's certain is that older people will making ever louder demands in the future, whether the rest of us are listening or not.
With a growing cohort that will dominate the country's wealth, designing homes for the over-50 buyer will become more important than ever and could drive housing trends for the years to come.