Baby boomers own homes, lots of them, with empty rooms, lots of them.
An article by Cameron Simons suggests that baby boomers and millennials might find common ground in the housing market. That is, in the extra rooms available in the homes of aging baby boomers. A new Trulia analysis analysis found evidence of 3.6 million unoccupied rooms in the nation's 100 largest housing markets. Then, Simons suggests the following.
For retired or soon-to-retire boomers, extra rooms are an opportunity to supplement income and offset cost-of-living increases – as much as an additional $14,000 a year. For many older Americans, renting a room provides an economic boost that may help them stay in a home longer.
For young adults, renting a room as opposed to a one-bedroom apartment could save them up to $24,000 annually.
FULL STORY: Boom-mates: How Empty Nesters Could Help Ease a Housing Shortage
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Significant Investments Needed to Protect LA County Residents From Climate Hazards
A new study estimates that LA County must invest billions of dollars before 2040 to protect residents from extreme heat, increasing precipitation, worsening wildfires, rising sea levels, and climate-induced public health threats.
Federal Rule Raises Cost for Oil and Gas Extraction on Public Lands
An update to federal regulations raises minimum bonding to limit orphaned wells and ensure cleanup costs are covered — but it still may not be enough to mitigate the damages caused by oil and gas drilling.
Opinion: Criminalizing Homelessness Is ‘Expensive and Shortsighted’
Policies that punish and fine unhoused people for sheltering outdoors, even when other shelter is not available, are the most visible but least efficient ways to reduce homelessness.
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