OK – people – like it or not – a recession is looming. How could it not be. The once cash-flush consumer (yes that same person that used their house as an ATM) is now credit-crunched; the equity value of housing is falling; commodity prices are sky-rocketing and are eating into our disposable income at every turn – at the pump, in the grocery store, our heating and electric bills – PHEW – it’s depressing, exhausting and scary.
BUT – there are other “R” words that provide some hope. They are the “R” words spoken by a generation of Boomers: Retirement, Recreation, Restaurants and Real Estate. These are the 4 areas where the largest demographic are spending their money and the Berkshires is one of the places that offers amenities that the Boomers want – access to recreation (both cultural and physical – check!); access to great restaurants – check! But more importantly this retiring generation is downsizing. In the Northeast, they are generally buying 2 smaller low-maintenance style homes – one in a warmer climate and one near Boston or NYC.
And which area in the Northeast is essentially equidistant to both? The BERKSHIRES!! I think I like the “R” words.