Downsizing Definition – How Downsizing Is Impacting America
Downsizing Definition[caption id="attachment_12949" align="alignright" width="346"] Baby boomers are downsizing and changing the definition on Wikipedia. Take notice Wikipedia![/caption] Wikipedia- Downsizing may refer to: Layoff, temporary suspension or permanent termination of employment of employees. As can be seen in Wikipedia, the first definition for downsizing has to do with “termination of employees”. In the late mid 80s through the late 90’s, manufacturing shutdowns were all people talked about and layoffs were ultimately a result of a company “downsizing”. Today, the term has a different meaning.
Redefining the Definition of DownsizingI suspect I was one of the very first people in the "reliable moving" industry to have applied the word “downsizing” to the American family. Several Years ago I became engaged in conversation with June Fletcher, a real estate writer for the Wall Street Journal, on the topic of “Downsizing” and its’ definition. A few days later an article appeared in the paper, “Downsizing, by June Fletcher”. Of course now it is the buzz word for practically everything to do with our rapidly aging demographics. Heck, there’s even a movie titled “Downsizing”, in which the main character actually downsizes his body in order to make his older years more cost effective.
Why Are We Downsizing?Over 77 million baby boomers began retiring approximately 7 years ago and as they have done this, they have been selling their primary residence to simplify their lives. Unlike the 25 million parents of the boomers, who often lived in the first house they moved into, baby boomers moved an average of 4.5 times up until retirement. Along with the financial success of the boomers came bigger homes and, more stuff in these homes. When the kids moved out and moved to warmer weather in the Southern states, boomers have followed suit and have been selling and relocating at an alarming rate.
How Are American's Downsizing?
- Estate sales
- Yard sales
- Consignment shops
- The Dumpster!
Posted by Jim Henderson