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The ‘silver tsunami’ will hit South Florida even harder

Housing Wire

In 2025, it’s estimated that roughly 940,000 residents in the 65-and-over bracket — including 130,000 who are 85 or older —will call the region home. Florida already leads the U.S. in the concentration of older adults living there, with more than 18% of its total population comprised of residents 65 and older.

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Retirees moving to low-tax states may be disappointed by the savings they find

Housing Wire

told the outlet that the tax bracket matters a lot in terms of potential savings from a move to a zero-income tax state. Their financial advisor, who spoke to the Journal, explained that the couple will now have to work many more years to be fine. Jared Walczak, VP of state projects at the Tax Foundation in Washington, D.C.,

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Older Americans are increasingly reliant on credit cards to cover basic living expenses

Housing Wire

About half (52%) of survey respondents between the ages of 50 and 64 have credit card debt, but more than one-third of those in the 65-to-74 and 75-and-older brackets also carry balances. Those between the ages of 50 and 64 are more likely to carry credit card balances, as well as those with incomes of $40,000 a year or less.

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This aging-in-place program flies under the radar, but it could lower senior care costs

Housing Wire

population is growing older at a faster rate, and those in the 65-and-over bracket are poised to outnumber those 18 and under by the midpoint of the next decade. If youve heard it once, youve probably heard it many times before.

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Rising Homeownership Costs Driving Record Financial Strain 

Appraisal Buzz

For those in this income bracket, severe burdensdefined as spending more than 50% of income on housingalso reached a record high. In 2023, the cost-burden rate for this group reached 74.2%, marking an increase of 5.4 percentage points over the last four years. in 2010 following the Great Recession.

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What are the potential home equity and tax strategies for wealthy seniors?

Housing Wire

It depends on an individual’s tax bracket and their priorities, but there are several options for higher-net-worth individuals,” Resch said. Steve Resch, vice president of retirement strategies at industry-leading lender Finance of America Reverse (FAR), told Financial Advisor that the utility can vary when it comes to tax savings. “It

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Real Estate Agents Weigh in on Impact of NAR Settlement

Appraisal Buzz

Commissions Have Risen Slightly for Some Homes Listed While the average buyer’s agent commission has stayed the same since August, there have been slight changes within different price brackets.