Renting in Retirement May Be a Good Idea After All
Contributor John Wasik explains why more retirees are choosing to rent. Should you?
In the decades after World War II, the script for homeownership was pretty standard throughout most of the country: Buy as much home as you can afford, then pay off the mortgage before you retire. And by all means, only rent as long as you have to.
During the past decade, however, that narrative has fallen by the wayside for many. More than 6 million Americans age 65 and older are carrying a mortgage, according to a study by the Census Bureau.