Friday, May 3, 2019

Why aging homeowners are a big problem

This report from Harvard Joint Center for Housing Studies finds that 63 percent of homeowners are now 50 or over.
This, plus the fact that more of them in this age group carry a loan, and for a larger percentage of their home value, is a "troubling trend" according to the authors of this study.
Finally, counting renters as well as home owners, the report finds that "the number of households age 65 and over with housing cost burdens continues to climb".  Nearly a third spent more than 30% of their incomes for housing, and about 1/2 were severely burdened, paying at least half of their incomes for housing.
(From an article from HOUSINGWIRE in November 2018 by Jessica Guerin)

Thank you for reading!  Share if you like the article (I find it thought-provoking), and contact me for your real estate questions!

Francis Rolland

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