SEATTLE: According to a report, most baby boomers plan to age in place. The generation will account for nearly one in every four dollars spent on housing in the next five years.
The report says it doesn’t expect this generation to stick to the script when it comes to retirement and housing decisions. The research, which surveyed more than 4,000 boomer households (ages 50-69), revealed that few baby boomers have intentions of downsizing or moving to warmer climates far from their families.
The report also showed baby boomers are carrying much more mortgage debt than earlier generations at this life stage. Even so, most of the generation who will purchase homes plan to use mortgage financing, like reverse mortgages, to do so, and in contrast to millennials, the majority is confident in their ability to qualify for financing…