Where Do You Plan To Live In Retirement?
You may be someone who envisions moving somewhere beautiful when you retire. After all, spending your retirement soaking up the sun somewhere near the water doesn't sound too bad. But while many of us may fantasize about moving away in retirement, the reality is the majority of us are happy where we are. According to one newly released survey, 70 percent of Gen X and Baby Boomers say they plan to retire in the home they currently own. The reasons are varied, including everything from having a low mortgage payment to having remodeled the house to fit their needs. Whatever their reasons, many Americans don't see themselves selling their homes and moving away. So many Americans, in fact, that it may be affecting the housing market. How so? Well, with more of us planning on staying in our current home during retirement, there are fewer existing homes on the market available to home buyers. (source)