Chad Mitchell is seeing the problem right up close.
“My parents could sell their house and walk away with something like $100,000,” said Mitchell, an agent with Century 21 Beutler & Associates in Coeur d’Alene. “You know, downsize and have that money to enjoy life.
“The market is going up, so they could get a good price. But what then? They sell, and unless they want to leave town, they’d be walking right back into the same housing market.”
Here is the issue that faces Mitchell’s folks and millions of other house-seekers nationwide: Baby Boomers are not selling homes, for those reasons facing the Mitchells but often because they’re comfortable and just don’t want the hassle. Some are still working, but it’s generally at home and on their own terms/Steve Cameron, Coeur d'Alene Press. More here.