Seniors Choose to Age In Place

  • Hello to all my Frugal Friends!

     

    Recently I read a strange article. They said that millennials couldn't find homes to buy because baby boomers aren't moving out of the homes that they raised their families in. The theory was that the 50+ crowd wasn't moving because they didn't have anyplace to move into.

     

    Here are a couple of sections from the article:
    "People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900, according to real estate website Trulia. That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that age, baby boomers had homes at almost twice that level."

     

    "Public policy contributes to the generational standoff. Property-tax exemptions for longtime residents keep older Americans from moving. Zoning rules make it harder to build affordable apartments attractive to senior citizens. “The system is gridlocked,” says Dowell Myers, a professor of urban planning and demography at the University of Southern California. “The seniors aren’t turning over homes as fast as they used to, so there are very few existing homes coming online. To turn it over, they’ll have to have a landing place.” source: Bloomberg.com

     

    It's true that a lot of people in the 50+ range are considering moving. For a whole variety of reasons. And for most of us, it's a very personal decision.

     

    If you're considering downsizing now (or in the future) we've assembled some helpful articles for you.
    -

Comments

1 comment
  • oddfox likes this
  • oddfox
    oddfox After reading your article on baby boomers wishing to age in place and the strain that puts on the younger generation to find affordable housing, I wondered. Of all the new houses springing up around our area, (and we live in a modestly priced area overal...  more
    August 20, 2017

Get Out of Debt

Stay Connected with TDS
Little Luxuries
Subscribe

to any newsletter and get a copy of our ebook Little Luxuries: 130 Ways to Live Better...For Less for FREE!



The Dollar Stretcher
Dollar Stretcher Parents
Dollar Stretcher Tips
The Computer Lady

Your Email:


View the TDS Privacy Policy.