Gray divorce: How the splitting of older households is impacting the housing market
Underwood Law reports that the rise of gray divorce among those 50+ is reshaping the housing market, increasing inventory but also driving demand for smaller homes. The increasing number of older households divorcing due to longer life expectancy and a longer "third act", the "gray divorce" is now the most prevalent in the U.S. While overall divorce rates across the country are decreasing, the 50+ demographic is the outlier. A report from the National Center for Family & Marriage Research shows that divorce rates for those over 50 have doubled and rates for over 65 have tripled since 1990. This divorce can significantly impact the housing market, unlocking inventory while creating new demand. About half of US. adults who go through a gray divorce live alone after the divorce is finalized, contributing to increased demand for high-end active-adult rental communities. Older buyers/renters are aggressively targeting condos, townhomes, and smaller single-story homes.
Publicerad : 5 månader sedan förbi Stacker i Finance
With longer life expectancy comes a longer “third act,” and many people in their 50+ era just don’t want to stay in the same box society has confined them to. As a consequence, the so-called gray divo... [4639 symbols]
Ämnen: Real Estate, Markets