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Why Retired American’s Move

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Major Reasons Older Americans Move

Major Reasons Older Americans Move

A recent study from the prestigious Center for Retirement Research at Boston College sheds light on the relocation trends of retirees. The study explores in great detail the moving habits of older Americans over a twelve-year span (1992-2004). The findings are, in many respects, quite surprising:

  • A significant share of older homeowners do, in fact, move. The two-year move rate is a modest 7 percent, a full 30 percent move over the 12-year period studied.
  • Despite widely held sterotypes of retired Americans flocking to warmer climates, the study finds most moves are of a relatively short distance, with only a modest indication of Frost Belt to Sun Belt migration.
  • Households that are older or have a female head are less likely to move, while those that are
    unmarried, white, or have a college degree are more likely to move.
  • Older movers can be broadly categorized as either Planners or Reactors, based on whether they experience a negative shock.
  • Households that receive a negative shock, such as divorce or death of a spouse, are more likely to move compared to non-shock households or households with other types of shocks.

by admin