Baby Boomer Report 2003 Released by Del Webb

June 18, 2003 – Seventy-six percent of today’s Baby Boomers are not confident they will have enough money for retirement and 43 percent say they plan on continuing to work. These are some of the findings released today in the annual Baby Boomer Report by Del Webb, the active adult brand of Pulte Homes.


	At the bottom of this story are links to other reports and findings of the report

Conducted annually since 1996, the Baby Boomer Report reaches out to segments of the baby boomer demographic to record their opinions about retirement, fitness and a variety other topics. This year, more than 1,300 boomers nationwide age 44 through 56 completed the survey. This group represents the segment of the baby boomer generation that is actively planning for their future retirement and whose attitudes and perceptions provide a window into future retirement trends.

Some of the results of this year's survey include:

Are They Moving?

--	59% of those surveyed plan to relocate for retirement. This is a dramatic change from previous reports and conventional wisdom, which placed the percentage much lower. In the 1999 Del Webb boomer survey, only 31% of the respondents, age 48 to 52, said they planned to move to another residence for retirement.
--	31% will relocate more than three hours from their current location.
--	7% of those planning to move, or approximately 2.4 million retiring baby boomers by 2005, are likely to consider an active adult community, defined as an age restricted community for those age 55+.

"This kind of information is critical when charting the future course of active adult living," said Dave Schreiner, vice president of active adult development for Pulte Homes. "For example, seeing a huge increase in the number of people looking to relocate for retirement and interested in active adult communities, we need to be ready with new communities that fit the wants and needs of this demographic when they are ready to move."

What About Their Finances For Retirement?

-- 43% surveyed plan to continue working in retirement, with 51% of them starting a second career and 37% working part time in their primary career.

-- Those surveyed feel they will need more than $800,000 saved for retirement and expect it to have to last an average of 19 years.

-- 76% are not confident they will have enough income in retirement.

Is Exercise Important?

-- 88% agree they would be happier in retirement if they remain physically active.

-- 60% reported exercising at least once or twice a week.

-- 93% expect to exercise the same amount or more in retirement.

"Today's 55+ buyer is more active than ever before and expects to get even more active when they relocate for retirement," said Schreiner. "This is an important trend that we incorporate into the design of our communities with a complete fitness and wellness package for the aging baby boomer."

What Do They Think About World Events?

-- 91% expect the United States to still be dealing with terrorism when they retire which could be as far away as 19 years for some surveyed.

-- 32% said September 11th had a strong impact on their lives.

-- 44% expect the U.S. economy to stay the same or get worse as they approach retirement.

How was the survey conducted?

This year, Del Webb reached out to Baby Boomers between the ages of 44 and 56 who were either employed full time or seeking full time employment. This group represents the segment of the baby boomer generation who are actively planning for their future retirement and whose retirement attitudes and perceptions provide a window into future retirement trends. A total of 1,361 completed surveys were collected and analyzed. The annual survey was conducted online within the United States by Harris Interactive in April 2003 among a nationwide cross section of qualified respondents. The results are weighted to assure accurate representation of the population surveyed. "Propensity score" weighting was also used to adjust for respondents' propensity to be online. In theory, with probability samples of this size, one could say with 95 percent certainty that the results of this survey have a statistical precision of plus or minus 5.1 percentage points if the entire population had been polled with complete accuracy.

Who is Del Webb?

Del Webb is the nation's leading developer of active adult communities with more than 18 communities currently courting the 55+ buyers. Webb opened its first Sun City community outside of Phoenix, Arizona in 1960 and has been redesigning adult living ever since. Originally billed as an affordable retirement, Del Webb's communities have evolved into a haven for those 55 and better where they can live the life they desire and pursue the interests, both physically and mentally, that they have had to put on the shelf most of their working life. Today's resident of a Del Webb community is mentally and physically engaged, connected to the surrounding community and enjoying this new and exciting phase of their life. The Del Webb Corporation was acquired by Pulte Homes in July 2001 creating the largest homebuilder in the United States. Pulte's logistical expertise, vast land holdings and home building prowess teamed with Del Webb's superior community development skill and understanding of the 55+ market makes for an organization ready to provide for the needs of the largest single demographic to move through American society, the baby boomer generation. Del Webb has been conducting this annual opinion survey since 1996. The annual Baby Boomer Report explores these and other topics in detail

About Pulte Homes:

Pulte Homes, Inc., (NYSE:PHM) based in Bloomfield Hills, Michigan has operations in more than 44 markets across the United States. Under its Del Webb brand, the Company is also the nation's leading builder of active adult communities for people age 55 and older. Over its history, the Company has constructed more than 330,000 homes and was named Builder of the Year for 2002 by Professional Builder magazine. Pulte Mortgage LLC is a nationwide lender committed to meeting the financing needs of Pulte Homes' customers by offering a wide variety of loan products and superior customer service.

On the web: www.pulte.com www.delwebb.com

Links to More on Baby Boomer Report

Get the full results of the Baby Boomer Report.

In this press release, you will read about the general findings of the study, covering the issues of housing, exercise and finance.

An amazing 59% of those surveyed said they would move into a new residence in retirement with 31% of those interested in relocating saying they were likely to move more than three hours away from their current location.

Active adults consider a variety of factors when looking for a new home for retirement, including low maintenance, aesthetics, community security, healthcare availability and recreational amenities.

Baby Boomers will continue to work. 43% of those surveyed plan to continue working in retirement with another 44% unsure whether or not they’ll work.

“The survey also tells us that 76% of those surveyed are not confident they will have enough income in retirement,” said Dave Schreiner, vice president of active adult development of Pulte Homes, “So this high level of uncertainty may be attributed to financial insecurity and an uneasiness over the need to work in retirement.”

Eighty-five percent of those surveyed said they strongly believed they would live longer if they remained physically active in retirement and 88% strongly believed they would be happier. This explains why 60% of this group exercises at least once or twice a week with 41% exercising several times a week or every day.

Despite health concerns, baby boomers are enthusiastic about their pending retirement. In fact, 24% of those surveyed believe cancer will be cured before their retirement.