Items Tagged with 'Baby Boomers'

ARTICLES

  • 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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  • 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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  • Former SoFi CEO Mike Cagney's blockchain lending startup Figure unveils first loan program

    Launches first home equity loan product, grants approval in 5 minutes, funds in 5 days
    Figure Technologies is aiming to shake up home equity lending. Co-founded by former SoFi CEO Mike Cagney earlier this year, Figure leverages blockchain, AI and advanced analytics to elevate the lending process for homeowners looking for access to their equity. The company just announced the release of its first product – the Figure Home Equity Loan – which offers borrowers a completely digital experience at an impressive clip.
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  • Baby Boomers won’t downsize homes anytime soon

    Instead, they're working longer and the kids are living with them
    Baby Boomers are staying put and their kids are sticking with them, according to a new study by Trulia that examined the housing situations of homeowners 65 and older. The study revealed that seniors appear to be holding off on downsizing just the same as they were 10 years prior, and that contrary to some opinions, the lack of downsizing is not eroding affordability.
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  • Lack of retirement savings haunts Baby Boomers

    Will home equity access be the solution?
    An estimated 10,000 Baby Boomers are expected to enter retirement every day by 2030, but data reveals that an alarming number are financially unprepared for retirement. As older adults search for ways to bolster their retirement savings, will accessing their home equity be the answer?
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  • More Boomers are mortgage shopping online

    Reverse mortgage lenders see opportunity to invest in digital resources
    Like most consumers, Baby Boomers are increasingly turning to the web to do their shopping, and apparently, shopping for a mortgage – or reverse mortgage – is no different. A recent survey by Ellie Mae revealed that nearly a quarter of Boomers reached out to a lender online, signaling to lenders like Finance of America Reverse that online resources are a smart investment.
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  • AARP Gives Boomers a Dose of Reality

    AARP and WGBH-TV launched a 5-part on-line reality series that features ten baby boomers while on a retreat to deal with troubled relationships and explore ways to live the lives they always wanted with  national experts and one another.   The series, entitled "5 Weeks to a New Life," began with the first episode, "Week 1: Marriage - Real-time Communication." Each week will address a different topic that boomers face, moving from marriage, to staying sexually active throughout life, maintaining appearance without resorting to Botox, financing dreams, and finally, living life with a purpose. Hosted by Hugh Delehante, SVP
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  • Originating: Will Baby Boomers Go Boom or Bust?

    We’ve all seen the commercial. The late Dennis Hopper, a revered icon of the Easy Rider days of the 1960s and a poster boy for the “love generation” – aka the baby boomers (although not technically one himself) – is standing on a beautiful beach with calming, azure water; warm, soothing sands; puffy clouds; and a hint of an inviting, uninhabited island on the horizon. He’s wearing a black collared shirt and a pair of ultra-cool, understated shades, and sports a small salt-and-pepper goatee. Holding a tattered dictionary, he reads the definition of the word “retire”: “to withdraw, go away,
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  • WSJ: Boomers 401K Accounts Fall Short

    According to a report in the Wall Street Journal, the typical household headed by a person aged 60-62 with a 401(k) account has less than one-quarter of the amount necessary to maintain their standard of living in retirement.  The analysis conducted by the Center for Retirement Research at Boston College utilized data compiled by the Federal Reserve. Using estimates of 401(k) balances from the end of 2010, the report reviewed the income those amounts would provide in retirement as compared to estimated income needs in retirement.  As a benchmark, the report used an assumption that retirees would need 85%
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