Do you need to own a house? A recent story in the Wall Street Journal (reposted on Realtor.com) says many older Americans have decided that they do not. They say rising property taxes, insurance and home-repair costs (like HVAC) are prompting many people 55 and older to consider renting. In addition they say renting offers flexibility that allows people to move if they want a change of scenery or to be closer to family. Indeed…
“I’m at a different stage in life,” says Kerr, who lives in Dogwood Commons, a rental community for people 55 and older in the Dayton, Ohio, area. “I have no interest in yardwork and home improvements.”
Soaring taxes, rising insurance and home-repair costs are pricing some people out of their homes. Property taxes tend to go up every year and in some affluent areas residents can be hit with unexpected double-digit increases.
Click here to read the full story on Realtor.com
Click here to read the full story at the Wall Street Journal.
