Hans Nordby, Managing Director of the CoStar Portfolio Strategy team, was recently cited in a prominently featured article in USA TODAY focused on housing trends and retirees.
Titled “Who Needs Florida? Here's Where People Approaching Retirement Plan to Live,” Nordby provided insights on home value trends and their likely effect on selling and relocation.
According to the article, Nordby noted that “in the past year home values finally surpassed their previous peak by some measures.” That, he says, “will likely prompt more older Americans to sell their houses and move either within their communities or to other regions.”
Additionally, he notes that a coming wave of Baby Boomers who plan to downsize but stay in big Northeastern or California cities will strain housing supplies in those areas because restrictive zoning laws now limit the development of condos or smaller homes.
However, “he predicts zoning officials ultimately will approve a crop of new complexes that are restricted to 55-and-older residents,” which will alleviate the burden of added costs to local school systems.
To read the full article, click HERE.