From US News Money:
If necessity is the mother of invention, then the aging-in-place movement is a natural. For years, consumer surveys have reported that most people want to live right where they already are as they get older. Sure, millions may move to locales that, figuratively and literally, provide sunnier climes. But 10 times as many prefer to stay put.
In recent years, they’ve had little choice. Home values are still some $7 trillion below their peak. As many as 20 percent of homeowners have outstanding mortgage balances that exceed the current market value of their homes. U.S. Census figures show interstate migration has just about ground to a halt.
Why accept a depressing reality when it can be turned into a positive marketing and lifestyle mantra? So it is with aging in place. Seniors are told that they can save money by staying in their homes, while also retaining priceless relationships with nearby family and friends. They can age in familiar surroundings, and thus may be able to avoid moving to a nursing home or assisted living facility. If finances are challenging, there is always a reverse mortgage that can provide needed funds and permit seniors to stay in their homes.
Find out what states are doing to make this a reality: