Funny - elsewhere in the article it states that the exodus might be slowed by the drop in property values. Might be too late to get out while the "getting is good"
I can speak only for myself, but when my time comes to retire (two years' hence), my intention is to sell my property (in a declining neighborhood) for whatever price I can get, simply to get out and be free of it.
If I can get 100% back of what I put into it 20 years ago, that's fine.
If I can get 75%, that's ok, too.
If I can get only 50%, again, I don't care.
I will sell for nearly any price, simply to "get out".
I suspect that the retirement of the baby boom generation will begin a "migration" unlike any other previously seen in America.
We will see a large part of an entire generation fleeing to try to "get back to where they once belonged". That is to say, to places that more resemble the America they were born into, rather than the America "that is today".
- John