Older Homebuyers Now Have "Different Mind-Set," Says KB CEO Jeff Mezger '77
April 6, 2009
April 6, 2009, Greencastle, Ind. — "People that would have bought a larger home with more frills because they could afford it but didn't need it, now will only buy what they actually need," says Jeffrey Mezger, chief executive officer of KB Home and 1977 graduate of DePauw University. "It is a different mind-set when you're in the economic times that we're in."
Mezger is quoted in a nationally distributed Associated Press story which examines a move by homebuyers who are 50 and older toward smaller residences. "Catering to baby boomers and seniors who have lost savings during the recession, retirement-housing designers and developers are shifting to smaller homes that are more energy-efficient and maximize space," reports AP. The article notes that "home builder KB Home has begun rolling out smaller, more affordable homes for all buyers called The Open Series. They offer more single-story designs, are more energy efficient than homes built 10 years ago, and give buyers flexibility on room sizes and other parts of home design, said KB Home CEO Jeffrey Mezger. It appeals to seniors because of the open floor plans and minimal space used on hallways, for example. In Orlando, Fla., about one-fourth of The Open Series buyers have been older than 55, Mezger said."
Access the complete text at the Web site of North Carolina's Winston-Salem Journal.
Jeff Mezger was also cited in a recent USA Today article.Back