Tag: house rich
Every year, older homeowners leave billions of dollars worth of the wealth locked up in their houses to their adult children. This is a paradox if one considers that home equity is one of retirees’ primary assets and could be a crucial source of income for people who are “house rich and income poor.” Retirement…
A reporter asked us recently about trends in living arrangements among older Americans. The question stemmed from the notion that house-rich, cash-poor households might be taking in lodgers to cover their expenses in retirement. While that hypothesis did not pan out, the data are quite interesting. Living arrangements have been changing. The percentage of individuals…
