Baby Boomers Are Worried About Housing Costs
It is not just Millennials who are struggling with housing costs. A new survey shows Baby Boomers are also worried about paying rent and affording their homes.
The NHP Foundation survey said one-third of Americans aged 55 and up worry about being able to afford their home at least once a month, Construction Dive reports. Retirees are even more worried. The survey said 42% are concerned on a daily basis. Nearly 65% of Baby Boomers are worried their adult children will not be able to afford housing.
Experts said the survey reflects today’s tight housing market and high prices. On the upside, analysts predicted the number of properties specifically geared toward Baby Boomers will grow over the next few years.