agenotes.com

The Next Real Estate Boom - Cemetery Plots for Baby Boomers?

It just makes sense that there will be a coming real estate boom in cemetery plots for baby boomers. Already blurbs are showing up in the media indicating that space is limited and plans need to be made. That has me thinking that there must be a cemetery plot boom looming in light of the predictable increase in demand.

Baby Boomers have been a massive engine of lifestyle and economic change and there’s no reason to believe that the market for afterlife requirements won’t be influenced in ways not yet conceived. The outlook for increased traffic is real.

In doing a little snooping, I’ve found that the business of funerals, monuments, caskets and cemeteries comes under the heading of the “Death Care Industry”.  Apparently, it’s pretty fragmented with no really dominant player. Although there has been a drop in mortality rates, the 78 million baby boomers have yet to have a significant impact on that indicator.

One trend is toward more cremations.  However, the industry is expanding it’s capacity to accommodate the maintenance of urns.  Many people don’t want to scatter their loved one’s ashes at sea or down the disposal.

Indicative of the trend is a report that just came out that the State of Virginia, which has a large Vietnam veteran population is making plans to expand capacity in it’s veteran’s cemeteries. The University of Virginia has been commissioned to conduct a study on future cemetery needs. Its report is due in fall 2007.

Hawaii is another state with a disproportionate share of older population. Current demand can be met. But while operators of some cemeteries say they have room to last several years, they acknowledge that the Island’s growing elderly population will increasingly tax the available space.

Does this portend a real estate boom in cemetery space?  I’ll bet it does.

Tags: age, Age Discrimination, aging population, Aging Process, Anti Aging, Baby Boomers, senior citizens, seniors