Millions of Americans age 50 and older are looking around their spacious homes and are deciding they don't need all that room anymore. The kids are gone, maybe a spouse, too. And they could really use the money from a sale to bulk up their retirement funds.
It's a challenge lots of boomers are going to face. All told, more than 40% of Americans ages 50 to 64 plan to move within the next five years or so, according to the Demand Institute, which is jointly operated by the Conference Board and Nielsen Co.
Dominated by "the many Baby Boomers who delayed retirement during the recession," prospective downsizers exceed would-be "upsizers" by nearly 3 to 1, says Louise Keely, chief research officer at the Demand Institute.
Source: The Wall Street Journal, December 10, 2012