Signs of the “demographic train wreck” in retirement colonies in Florida
“There is a demographic train wreck coming that we are not really addressing nationally or in Florida,” says Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness.Over the next 20 years, the number of adults over 62 in the U.S. will double to 80 million, as the largest generation in American history retires. A demographic model that once looked like a pyramid, with a relatively small number of seniors with lots of younger people to support them, now more closely resembles a bobble-head doll. Right now in the U.S., four working age adults support each retiree. In 20 years, that ratio will slip to three to one nationally — and two to one in Florida…
Yet after years of stagnant population growth, Florida is adding new residents again, especially in those areas where it is growing gray. According to projections from Florida’s Office of Economic and Demographic Research, more than half of the five million migrants expected to flow into the state over the next 18 years will be 60 or older. This elderly population boom, fueled by the retirement of the Baby Boomers, the biggest generation in U.S. history, will profoundly change the face of Florida from a state that is simply very old, to a state with one of the oldest populations on the planet.
If it seems like there are a lot of wrinkled faces crowding the aisles at the Publix grocery store in Boca Raton now, just wait. By 2030, one in four Floridians will be older than 65, up from one in six today, with the 85-plus set the fastest-growing group, according to projections…
“Basically you are asking a bunch of old retired rich white people to vote for school bonds that benefit immigrant Latino kids,” says Jennifer Hochschild, a Harvard University professor who studies the intersection of politics, immigration and education. “This is a potential political disaster.”
It will be fascinating to see how this plays out. Currently, it sounds like developers have figured out there is quite a market for such retirement communities. I have wondered why these haven’t seem to have caught on in the same scalein more northern, even considering the weather.
Should retirees have the right or make the possibly wrong choice for the larger society by moving into more isolated communities of people their own age? I’m sure there are class and race differences present here as well – not everyone has the resources to move to Florida in their golden years. What happens when all of these older residents can no longer live in these communities and require more care?