Average boomer net worth, which was over $200,000 pre-recession, is now only $143,000. The median outstanding mortgage balance for a 50-to-69-year-old is up from $48,743 in 1992 to $118,000 -- and 56% say they may apply for another mortgage. "Boomers are just not planning that far ahead for some of the health issues and limitations they will face later in life," says Jeremy Burbank, a vice president at Neilson. "They look around and have a general reticence for things that are labeled as seniors products, including housing. Even with possible renovations to their homes, they're focused on updates instead of aging-friendly features. They just aren't ready to settle yet."
-Robert Carr, as excerpted from this National Real Estate Investor essay
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