Housing is the primary asset for Americans 65 and older – accounting for 50 percent of their total wealth, which comes in at a median of $273,000. By comparison, senior renters have median wealth of just $3,000.
The report, from the Mortgage Bankers Association’s research arm, recommends that policymakers tackle the issues of senior housing and health needs together.
“Housing demand over the next decade will be significantly impacted by the aging of the U.S. population,” according to Research Institute for Housing America executive director Mike Fratantoni.
Source: Akron Beacon Journal (OH) (11/25/13) Armon, Rick
Luxury Waterfront Real Estate Specialist
United Realty Group
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