Property Brothers: Millions of boomers will need to retrofit their homes

Published On Nov 24, 2024, 11:00 AM

The 'Property Brothers' emphasize that millions of baby boomers plan to age in their own homes, leading to increased demand for home retrofitting to suit senior safety needs. This includes modifications such as installing safety rails, enhancing home automation for easier control, and general renovations to meet the needs of aging residents. The brothers indicate a surge in home renovations as many old homes will require upgrades to ensure safety and livability for seniors. They also mention the potential economic opportunities tied to this trend, especially in home renovation technologies and services.

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Stock Forecasts

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Positive

As millions of boomers decide to remain in their homes and retrofit them, companies in the home improvement sector are likely to see increased demand. This trend presents significant opportunity for stocks related to home improvement and renovation. Notably, The Home Depot, a leading player in home improvement retail, stands to benefit from these renovations and upgrades as many retirees may seek to renovate rather than move. Additionally, technology companies focusing on home safety innovations may also prosper. Overall, this indicates a positive market direction for related stocks.

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