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Millions of senior citizens are staying in their homes longer than their predecessors in earlier generations, keeping homes off the market and making it more difficult for younger Americans to break into ownership.
According to an analysis from economists at Freddie Mac, 1.1 million homes have been “held off the market” by owners born between 1931 and 1941, and another 300,000 by those born between 1942 and 1947.
What will it take to get senior citizens out of their houses in order to make room for younger generations?
You can make statistics show whatever you want .. in an aarp study done in Long Island overwhelmingly seniors said they are selling their homes and relocating
As far as I am concerned this type of article just further demonstrates the sad decline in journalism which includes magazines. Any sort of research of serious attempts have been replaced by 20 or 30 somethings who crank out garbage for cheap wages.
Most of it is just jibberish including this article with a conspicuous lack of research or analysis. BTW, according to the author the rental market is also sad. So I guess if more older people sell their houses and rent apartments I guess even higher rental costs will be the fault of the older generations.
Even an absolute minimum amount of research would show that housing construction fell much below demand starting with the Great Recession. The level of construction and supply has yet to catch up with the demand. I guess Miss write garbage for cheap did not bother to notice.....
Millions of senior citizens are staying in their homes longer than their predecessors in earlier generations, keeping homes off the market and making it more difficult for younger Americans to break into ownership.
According to an analysis from economists at Freddie Mac, 1.1 million homes have been “held off the market” by owners born between 1931 and 1941, and another 300,000 by those born between 1942 and 1947.
What will it take to get senior citizens out of their houses in order to make room for younger generations?
We sold our 4000 sf house to our daughter and SIL and bought a new house that is 2700 sf. We do plan to Snowbird starting next winter and have 2 houses bought to serve that purpose with one in Washington state and one in Phoenix area.
Maybe because adult children have moved in with their aged parents because wages for unskilled and semi-skilled jobs are too depressed for workers to buy their own home?
Or maybe the aged home owners are in skilled nursing facilities and the homes are being held in Trust with Medicaid liens until the eventual deaths of the owners?
Those born in 1931are now 88 years old. I am certain many millions of 88 year olds are still 100% independent living and maintaining their own homes. (sarcasm)
Millions of senior citizens are staying in their homes longer than their predecessors in earlier generations...
And there are many more singles living alone than ever before too.
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