Baby Boomers Say They Aren’t Leaving Their Homes
Snow birds no more, aging baby boomers are more likely to decide now to stay put in their current homes, instead of downsizing or moving to sunnier locales. Retiring homeowners have played a key role in the real estate market in the US in years past. While the nest may still be empty, a lot of homeowners are deciding to stay put. This trend has been driven not just by the market, but by the changing face of retirement. Many baby boomers are deciding not to retire at 65, choosing to work longer. In addition, retirees are carrying more mortgage debt than before, fueling their desire to pay off more of their home before they retire. See full story here.
Reference: CNN Money