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Thank you ‘Builder’s Generation’

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POSTED July 23, 2010 1:17 a.m.
Our local real estate market and community owe a great deal of gratitude to the Builder Generation, a group of active adults who are doing more than their part to stabilize our local housing market.  In a time where our seniors have been almost disregarded in our culture, it’s good to live in a community that not only supports our seniors, but also places an emphasis on their importance.

Impact of Del Webb on Manteca
One major piece to our new housing market is the Del Webb community in north Manteca.  The active adult community has accounted for a great deal of the new construction starts, not just in Manteca, put for all of San Joaquin County.  This has not always been the case though.

For a few years their kids and grandkids were buying up and building 3,000 square feet plus homes all around us and inflating prices.  But just like they have always done with other parts of their lives, they live by the saying, “This too shall pass.”  And wisely didn’t get involved.

When I think about our current local housing market, I can’t help but think about my own family dynamic.  There was always something going on with this aunt or this uncle or this cousin, but then there was Grandma and Grandpa always sure and steady and always had the right answer.  I think most of us have fond memories of our Grandparents and one character trait that is common is stability.

Principals we can learn from them
Stability is something our housing market desperately needs and our active adults not only have stability in their housing prices in Del Webb, but they have also appreciated!  Why are they so much more stable than ours?  One big answer is they don’t typically take huge risks without careful calculation.  Remember they were children of parents that went through the Great Depression.  They knew the prices where over-inflated and that bubble would soon burst.

The importance of saving is another huge reason they are currently in great financial shape.  Most of the homes sold in Del Webb are paid with cash or conventional financing; where as the younger generations are using 3.5 percent down FHA insured loans.  Thankfully the 80/20 loans that got us into this housing burst in the first place are no longer around.  

Hopefully we all learn from our current economic climate and housing market and take a look at generations past and learn from them.  Learn that it’s good to work hard, save and give back to your community.  Learn that a stable economy comes from us being stable with our own finances.

So thank you Builder’s Generation for continuing to be the greatest generation that led us through WWII and is leading the way again in building our Manteca housing market.

To find out more information on our housing market or the Del Webb community, you can reach me at jreyes@pmz.com (209) 923-8527 or visit http://CentralValleyRealEstateSearch.com
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