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Use Research to Talk with Your Mom and Dad about Moving

Posted Oct 28 2008 9:48pm

The Society of Certified Senior Advisors introduced me to the Pew Research Center in a recent newsletter. There is some interesting stuff about seniors and housing. Here are a couple of tidbits from the Pew Research Center about homeowners 65 and older:

This group is the most pessimistic about home values compared to other age groups.

  • Of those 65 and older 14% expect their home values to increase
  • Of those 50-63 years old 27% expect their home values to increase
  • Of those 65 and older 15% expect their home value to decrease
  • Average of all age groups, 10% expect their home value to decrease

If you're working with your parent or another elder in your life who is thinking about moving, but is overwhelmed with the thought, this information might help you talk with them about moving now, vs. waiting until their property values decline.

Here's a basic human prinicple you can employ: The fear of something lost is greater than the prospect of a benefit gained.

Instead of talking with the senior about all of the positives of moving, talk with them about getting out of their house before a further decrease in the market, and before winter so they can sell their home for the highest price possible.   

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