Last fall, when many of my friends and I were having a really hard time keeping up with bad economy, I got concerned about what the next decade ahead might look like for us. Many of us are women, around or approaching 50, living in our homes and single. If we were having a challenge now, can you imagine what we would be facing in the next few decades? So, I started reading material on aging baby boomers such as the one I include here. It brings up some of the more sobering issues surrounding this topic:
One key question is whether the growing numbers of seniors will generate more home sales than the housing market is able to absorb. Specifically, we aim to identify the point at which boomers will begin to offer more homes for sale than they buy, with potentially serious consequences for the housing market. We project when this will occur in all 50 states, taking into account each state’s age specific population growth and prevailing patterns of home buying and selling.
Where and with whom will you live in the next 10-20 years if you can’t stay in your current home? Those are the questions I started to ask myself. Hard questions with no easy solutions.