Gen Y Choose Leasing
Seniors Can't Afford Homes
Older Americans are at risk of economic hardship, making it difficult to own a home later in life, especially when retiring on time is a goal. According to a recent Property Management Insider article, 30% of senior home owners spent approximately 30% of their income on housing, while over 17% pay at least half their income. Plus, they have to deal with rising energy and tax costs.
The survey also revealed the following:
So while some Americans would still love to own a home, many are more satisfied with a comfortable lease and no debt.