WSJ: Making suburbs age-friendly communities
Posted on 19 September 2009
Permanent URL of this article: http://retirementrevised.com/life/wsj-making-suburbs-age-friendly-communities
Single-family homes sprawled across communities may have worked for boomers while they were raising families, but it’s an issue for older adults who want to age in place. There’s good reading in today’s Wall Street Journal on how some communities are beginning to plan for grayer populations by designing age-friendly features. The core idea, the WSJ’s Glenn Ruffenach writes, involves creating a “compact, walkable community–one with alternatives to single-family homes, such as condominiums or row houses. Ideally, older residents in large homes will have the option of downsizing and remaining in a community where they can access restaurants, shopping and other amenities and services on foot.”
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September 20th, 2009 at 5:47 pm
The lifelong community is pretty cool idea. It reminds me of the neighborhood in the Bronx where I grew up. Funny, right? I think I read somewhere that seniors living in cities would like to stay but most couldn’t afford to.
If it does come to be, the reverse mortgage for purchase is the ideal tool for people. It allows them to leverage the cash they have, just like a regular mortgage, but with no payments. SFR’s or townhouses/row houses should work fine buy condo’s are becoming a problem for any reverse mortgage.