Elderly Housing Needs Must be Addressed as Homeowners Retire Later

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Posted To: MND NewsWire

In an early article, we summarized the first part of a new report on America’s aging population, especially as related to homeownership, published by the Harvard Joint Center on Housing Studies. The second part of the report deals with the elderly’s housing and financial condition. Since the turn of the century, incomes have grown much faster among retirement-aged households than those of pre-retirement age. However, since the Great Recession most of the gains have gone to the highest-income households in each age group. The median income for the top 10 percent of earners in the 50 to 64-year group has risen nearly twice as fast (15 percent) as among the bottom 10 percent, a record median of $204,000 in the first case, $14,400 in the second. Meanwhile, the median for the highest earners in…(read more)

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