NEW YORK: A survey by Merrill Lynch concluded that retirees will have an outsized effect on the housing market in the next decade.
A Merrill Lynch study indicates that people over 65 will account for the bulk of new home purchases. About a third of retirees are moving into bigger homes.
Retirees and those near retirement will have an outsized effect on the housing market over the next decade, as baby boomers and elders are buying or altering homes to live in them longer or to accommodate family members, the new study said…