alt Hacker NewsElderly retirees seldom move. They’ve long paid off their mortgage and we keep property taxes extremely low so they are pretty much immune to the cost of housing. Once you put down roots in a community it’s hard to leave.
Elderly retirees seldom move. They’ve long paid off their mortgage and we keep property taxes extremely low so they are pretty much immune to the cost of housing. Once you put down roots in a community it’s hard to leave.
They also usually don't want to leave their established doctors. This is actually one of the reasons why we need mixed-housing options within neighborhoods so that elderly people can downsize into more manageable one and two bedroom apartments, condos, or duplexes etc without having to leave the neighborhood. Downsize into housing stock without stairs, without a large yard to upkeep, downsize into something smaller that would be more affordable to adapt for someone aging in place.