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…
Reversal is driven by low-income individuals. 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 hav…
