Wednesday, December 07, 2005

Moving Out

According to a CNN report many residents of high priced housing markets are cashing out and moving to more affordable areas.

The report stated "In Massachusetts, a quarter of the people in the state said they would leave if they had the opportunity, according to a poll by MassInc, a non-profit public policy think tank. They would join some 170,000 Bay Stater's who left for other parts of the United States between 2000-2004.

The number one reason cited by those who want to leave: The high cost of living. And the number one area needing major improvement: Housing affordability."

Accoding to MassInc report:

1. 39% of Mass baby boomers expect that they will work in their retirement years not by choice but due to financial necessity.

2. More then one-third of boomers (35%) say they want to leave the state for their retirement years. This would translate roughly 650,000 people, or 10% of the state's population. The report stated "While some degree of retirement migration is to be expected, the sheer size of this generation makes their exodus worrisome."

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