Children Want Their Parents To Age In Place, But It’s Hurting Housing

Most Americans want their parents to age comfortably in their own homes, but it can be a challenge for both families and the housing market. Three out of four adults want their parents to be able to age in their own homes, but more than half of Gen Xers don’t feel financially prepared to assist their parents in old age, according to a new study from American Advisors Group. AAG surveyed 1,500 adults aged 40-55 who have senior parents. “The retirement savings crisis is real, and many Gen X adult children are telling us that caring for their parents will be extremely difficult and potentially unattainable,” said Eddie Herda, AAG VP of Brand Strategy. Herda said there is interest in…

Study: Americans Moving To Be Closer To Family

A new study from United Van Lines found Americans moved to lower-density areas to be closer to their families in 2021. The study, which uses data from the migration patterns of United Van Lines customers, found Vermont and South Dakota had the highest inbound migration, at 74% and 69%, respectively. South Carolina (63%), West Virginia (63%), and Florida (62%) also had high inbound migration rates. New Jersey had the highest number of people moving out of the state, at 71%, for the fourth year in a row. Illinois (67%), New York (63%), Connecticut (60%), and California (59%) also saw high outbound migration. Kentucky and Wyoming were among several “balanced” states that saw similar numbers of people moving in and out.…

American Homes Gained $9.1T In Value In November

Homeowners gained $9.1 trillion in housing value between November 2020 and November 2021, a new report from Redfin found. U.S. home prices rose 31.4% year-over-year (YOY) to $38.3 trillion in November, with a $2.6 trillion annual increase a year earlier. The surge in value was propelled by continuing home price appreciation. November was the 16th consecutive month of double-digit price increases. The number of homes for sales reached a record low, adding fuel to the fire. “The surge in housing values during the pandemic has widened the gap between homeowners and renters in America. Homeowners have seen their wealth increase significantly over the past year, while renters have missed out on those gains and are now grappling with rent inflation,”…