This seems pretty obvious to me but if you are a boomer looking for a retirement area, you have to choose wisely, spend what you can afford, and know what type of lifestyle you desire.
If you have a primary residence you are selling and simply desire to roll the money into a home in another location, you may not spend any of your retirement money.
I would have a hard time believing that anyone who has been responsible enough to amass a substantial retirement account would then empty said retirement account to pay cash for a retirement home and then attempt to exist on a meager fixed income.
I'm sure there are many people who can afford to buy themselves whatever type of retirement home they choose. There are probably equally as many who cannot. Since developers overbuilt based on speculation and media hype about boomer waves, then they can face whatever consequences come their way. Hopefully it won't trickle down to harm the rest of us too much.
spinDrAtl...I'm assuming "Atl" is Atlanta; down here you hear many realtors stating that the boomers will bail out the market and it's just around the corner. I think that was what Shelly was referring to and I agree with Shelly; I personally consider it to be wishful thinking by many realtors here.
If you are in Atlanta, are you experiencing the overbuilding and boomer hype up there?