New Trend?

I'm seeing a new trend amoung those that retire from my company and I thought it was interesting. The trend is to send their kids out of state to where they can afford to buy (ok, not a new trend). But what is new is that families are coordinating their moves in such a way that multigenerational moves are being planned as a package!

Multiple of my coworkers were discussing this today. Its not something I had heard much about. Ok, I've heard of a son or daughter moving out of state and then parents following to see the grandkids a few years later. But this time, its part of a planned muti-household move all within 2007!

The pattern is all the same. The adult kids pick a city where they have good employment prospects; the soon to be grandparents anounce their retirement and buy a large property on the outskirts of that affordable city. In all cases the oldest generation is buying a nice size lot (say 5 acres) near a lake and so far invariably in horse country. Due to the huge California home sale windfalls, the grandparents make out like a bandit (offen $1M+) and are retiring 5 to 10 years earlier than plan. Ponnies are being bought (for grandkids) as well as boats, RV's, and other "toys" for the grandparents to spoil the grandkids with.

As best I can tell, this one of two reasons my company is being hit with a rash of early retirements. (Cashing out). Reason #2 is a pension change that is relatively minor but has freaked out some old timers.

Before, people were retiring where they felt like it and flying the grandkids to them. Again, its the multifamily coordinated moves that I find interesting and new. (Usually both sets of grandparents and siblings too!)

One move is 5 families together. (Two sets of grandparents and three sets of adult children all pursuing a higher standard of living. Its resulting in three homes for sale in California (one sold, one pending, one on the market) and five being purchased in the new location. One additional set of grandparents is on the fence, but will probably move in a year or two (if they can afford to then).

Another move is just two families with a sibling promising to move in the Fall.

Another case has the grandparent finally winning a battle to pressure the adult kids to move out of state (so they can stop subsidizing their adult kids). Both sets of grandparents are preparing their homes for sale to follow. Another sibling might or might not follow.

Are you seeing anything similar? Did I miss this last year? (It is the right season to begin hearing about this for school break moves.)

Got popcorn?
Neil