Items Tagged with 'Baby Boomers'

ARTICLES

  • Baby Boomers creating "near-gridlock" by aging in place

    Boomers have become "a stick in the spokes" of the housing market, Chicago Tribune says
    Baby Boomers, the 75 million Americans born between 1946 and 1964, are clogging up the housing market, according to a Chicago Tribune story. Instead of moving to retirement communities, Baby Boomers are opting to age in place, keeping about 1.6 million houses off the market.
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  • Older homeowners are spending big on home improvements

    Harvard study says aging homeowners will drive this market
    Home improvement spending continues to trend upward, with the latest data from Harvard’s Joint Center for Housing Studies putting the aggregate total at a new high of $424 billion. The home improvement sector can thank the Baby Boomers for that, as research shows older homeowners are spending big on home renovations and aren't expected to slow down anytime soon.
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  • There are too many big houses on the market, and it's a problem

    Blame the Boomers. They built massive retirement dream homes, and now no one wants them
    There are scores of huge homes across the Southern U.S. that are simply sitting on the market, and sellers are settling for massive price cuts in order to move on with their lives. What gives? Blame the Boomers. Hordes of retirees with easy access to credit built their late-in-life dream homes across the Sunbelt in the early 2000s, only to discover that these huge, high-maintenance abodes didn't exactly make for ideal living in their Golden Years.
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  • Older homeowners are driving the home improvement market

    Harvard study says Baby Boomer spending on accessibility improvements will soar
    Armed with record amounts of home equity and an expressed desire to remain in their homes as they age, older homeowners are driving the home improvement market. A recent study by the Joint Center for Housing Studies at Harvard University revealed that households 55 and older account for half of all current home improvement spending. And, as Baby Boomers reach their 70s and 80s, researchers say their investments in home modifications to enhance accessibility will soar.
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  • Experts: Home equity is key to solving the country's looming retirement crisis

    But many older homeowners are still reluctant to touch it
    As Baby Boomers continue to retire en masse without sufficient savings to support their later years, it's become glaringly apparent that the country is on the brink of a retirement crisis. But many older Americans do have one major source of wealth at their disposal: their house. And for some, utilizing their home equity through a reverse mortgage could be the answer to their late-in-life money problems, leading some experts to call the HECM program important public policy.
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  • Freddie Mac: Seniors are causing the housing shortage

    More seniors are aging in place, and they're keeping 1.6 million homes off the market
    More seniors are opting to age in place rather than relocate later in life, and it has contributed to the supply shortage that's hampering the housing market. According to a study by Freddie Mac, seniors born after 1931 are staying in their homes longer than previous generations, and they are gumming up the works – and it's a trend that's not likely to slow down any time soon.
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  • Survey: Half of Boomer homeowners plan to age in place

    Most say they plan to borrow from their equity to make it happen
    More than half of Baby Boomers plan to age in place, electing to renovate in order to meet their changing needs, according to a new survey released by Chase and Pulsenomics. With home prices appreciating at a healthy clip, many older homeowners may look to their equity to fund home improvements.
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  • Home builders: Baby Boomer home sales disappoint

    Data suggests more Boomers are staying put
    Builder confidence in the housing market for those 55 years of age and older is slipping, highlighting a recent trend showing that Baby Boomers staying put rather than downsizing. According to the latest Housing Market Index from the National Association of Home Builders, sales of single-family homes to those 55 and older declined seven points the third quarter.
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