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."

Thinking of selling your home? Contact Ford Realty www.fordrealty.net

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