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I wonder if there is a difference, as far as housing market fluctuations go, between an aging person who passes away and leaves their home to their heirs and on
by jrumbut 3y ago
I wonder if there is a difference, as far as housing market fluctuations go, between an aging person who passes away and leaves their home to their heirs and one who sells their home before they pass away in order to fund their retirement/healthcare.
Obviously the outcome for the family is very different and worth examining, but for the moment I'm considering the broader impact on the housing market.
- poulsbohemian 3y agoI live in a place that has received awards as a retirement destination, IE: we have people in the scenario you describe... I don't really see a difference in these outcomes in terms of inventory. One observation I'd make is that many people who stay in their homes to the end often don't have the means (money, health, etc) to maintain their homes, meaning those homes are often in worse shape and thus a lower valuation. Often too if you think of a "last home" it is either going to be a "downsize" or it's a "dream home" neither of which may be appropriate for all segments of the market. This segmentation is something that gets overlooked when we talk about supply side problems. I have lots of houses available in my market, but they may not be the square footage or condition that all buyers are willing to accept.