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The Boston Real Estate Blog

I am an independent real estate broker, focused on the residential real estate market in downtown Boston.

Old People Stay Where They Are

Posted on 09/10/2007 09:35:08 | Link | Post Comment

Everyone always says, "When old people retire, they move south."

Apparently, not.

According to the United States Census Bureau, 9 out of 10 Americans over 60, or 41.5 million people, stayed in the same home or in the same county between 1995 and 2000. During that period, only 4.4 million Americans over 60 moved away.

Those figures don’t seem likely to change anytime soon. Last year, AARP surveyed Americans over 50 and found that 89 percent wanted to stay in their current home as long as possible. “Americans are going to age in place,” says Elinor Ginzler, AARP’s director for livable communities.

I can think of many reasons an older couple would want to move out of Massachusetts - lower taxes, warmer climates, quality of life.

However, if there's one thing I am constantly reminded of in daily life, it's that people like staying where they are. They end up staying in jobs they don't like, they end up living in places they don't like.

They're resistant to change, I guess.

Now, percentage-wise, there will still be a gradual migration, and Florida and North Carolina and Arizona will continue to grow, at the expense of northern states.

However, can you really stop that from happening?

I don't think so.

More: The New Gray Areas - By Anna Bernasek, The New York Times

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