Doesn’t there have to be a segment of baby boomers who are looking for adventure, and want to head out on the highway? If so, will the warmer-climate San Diego be a net gainer, or loser? If there is a senior exodus to free up money and lifestyle, it would make sense that the more-expensive areas like Southern California would see more seniors leaving.
From the nytimes.com:
When is a house your safe haven and when is it standing in the way of richer life experiences? That’s the question more and more retirees are asking these days.
Take Barbara and Mike West and Joseph and Phyllis Applebaum, retirees and longtime Maryland residents.
After years of analyzing their financial situation, the Wests decided to put the mortgage-free suburban house they had owned for 26 years on the market. They wanted to avoid the mid-Atlantic winters and considered moving to Hawaii, where they had lived while Mr. West was in the U.S. Navy.
But they decided it was too remote. They also ruled out San Diego, Savannah, Ga., and Charleston, S.C. Florida, they decided, was a possibility.
They considered renting their Maryland house out for part of the year, yet the idea of storing some of their household goods and someone else sleeping in their bed changed their minds.
Of the decision to sell a mortgage-free home, Barbara West, 63, said it would give them a chance to dream and to explore. Besides, “It’s a lot of money locked up in the house,” said Ms. West, who retired from her job as a lobbyist two years ago. “It’s a nice side benefit. It will free up money. We’ll have more flexibility. We’re kind of looking at it as an adventure.”
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