March 24, 2016

Trapped in the Suburbs

As is regularly reported by the media, many older adults are downsizing and moving from suburban to urban dwellings, where they will be able to age in place.  However, some boomers are discovering that making such a move may not be financially feasible, even for the relatively affluent.  Suburban home values have not necessarily kept pace with urban markets, especially in the New York City region.  A recent New York Times article explores the options available to these empty-nesters “who want to trade...unused well as the steep suburban property taxes, for the city’s excitement and convenience.”