
Solving Life's Next Chapter Podcast - Cutting Edge Information for Your Powerful Senior Years
Remember college shopping with your kids to find the best school for them?
Or, the other milestone of getting married and you had to find the place for your wedding and all the accoutrements?
Navigating the unknown is tricky, at first. So knowing the issues and milestones as you age and how to make good choices to address them for your aging parents or even for yourself is critical.
Have you shared how you want you want your golden years to look with your family? Does your family know what you want to happen when you are no longer here?
Do they know your wishes about your health care so they can help you in the best way possible if you are unable to tell them when that time comes?
What about your plans for living when you can no longer live alone?
Knowing these personal choices and the answers to these questions is a guessing game. Plus, just like paying for your dream wedding was a concern, so is paying for in-home help as you age. And moving to a home that offers assistance on the campus such as an assisted living community can also be pricy. What's involved in downsizing to a smaller home so that you can liquidate some equity to help pay for future services, such as caregivers? Or what kind of plan is needed to manage daily life if a family member receives a dementia diagnosis?
Did you know there are dozens of ways to answer these questions? There are!
But, which are YOUR best answers? Few of us ever thinks about managing aging issues, but the truth is, it happens to every person in every walk of life, every single day. There are 60,000 baby boomers turning 65 EVERY SINGLE DAY.
Listen to our Solving Life's Next Chapter Podcast and get to know me and my vetted, friendly guests who have answers we all need and ideas we can weigh as we age or as we help our parents age.
Let's Solve YOUR Life's Next Chapter together!
Solving Life's Next Chapter Podcast - Cutting Edge Information for Your Powerful Senior Years
Affordability
In today's, "Solving Life's Next Chapter" we speak with Sarah Perkins with Lawyers Title of Arizona. Sarah breaks down why Arizona is still one of the most affordable places to live and if we truly are in a "BUBBLE".
In order to understand affordability, we have to look at what is happening across the country and locally. Affordability is measured nationally but felt local, here in Arizona:
*AZ is a top destination
*250-300 new residents a day moving to Phoenix metro area
*The majority of people coming to the greater Phoenix Metro area are leaving southern California, mostly Los Angeles County, and San Diego County. People are leaving NYC, Chicago, Southern CA, Seattle for cheaper living and sunshine. (Slide #1)
*Over 50% of the people moving here are over 55
*People moving here can afford more expensive homes
*52% of incoming people make over $100K a year (slide#2)
https://www.unitedvanlines.com/newsro...
Arizona is running advertising campaigns inviting more and more people to leave the west coast for Arizona and it is working. Our job growth is nearly 2.5 times the rest of the country over the past 20 years. (Slide #3)
https://www.nahb.org/News-and-Economi...
Sarah Explains that when people cannot afford to buy homes or move up when they need a bigger home, we run into some big problems. One of the coolest things about homeownership is the path to wealth. Nothing creates wealth the way homeownership does. (Slide #4)
If our homeownership rates continue dropping as they have over the past 10 years, we have the potential of causing some massive changes to the US economy. The national homeownership rate is around 63%. It is a tough number to move because they are so many Americans. However, when you look at that number, a couple of drops can put us close to the 50% mark. When we as a country hit 50% homeownership rates then it is likely that some of the extra perks of homeownership could go away. When you have a country that is made up of 50% renters, which means the voters will be 50% renters and likely many of the congressmen will be renters. This could affect new policy and adjustments of current policy benefiting homeownership. As homeowners, we love having our values rise but in order for real estate to continue to be 13% of GDP, we need to make it an option for renters to become homeowners, and affordability is the biggest hurdle. (Slide #5)
If a renter expects to stay in the same place for 3-5 years, it is in their best interest to buy. Even if they have to pay a little more than what they could spend on rent, they will come out ahead. Using the example below, if a renter pays about $200 more per month to buy the median home today in Maricopa County, without any increase in value, after 5 years the owner will have $40,000 in equity, and that is based on 0 appreciation
To Contact Lydia or Sheryl
OR DONATE to Neighbors Who Care
Follow US...
On Facebook @VolunteerChandler; @lydiawietsma; @sherylzwolskikeeme
On Instagram @solvinglifesnextchapter; @sherylkeeme
On Youtube @solvinglifesnextchapter; @neighborswhocare; @luvgr8mnds
On Email Lydia@arizonapoweragent.com AND sherylkeeme@gmail.com
Thanks for listening...
#ChooseVolunteering