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Aging Population Points to Need for Affordable Housing

Redwood Age, Posted: Jul 28, 2009

SAN RAFAEL, Calif. -- As the nation's 78 million baby boomers drift towards retirement, finding affordable housing is going to be the greatest challenge, Redwood Age reports.

Contrary to popular conception, most boomers don't own homes, and the problem is even more severe for African Americans and Hispanics, who tend to have much smaller retirement nest eggs. The housing problem is more apparent in Marin County, Calif., the "grayest" of the Golden State's 58 counties, the news Web site reports. The county has a median household income of $96,800 and a medium home value of $670,000 (including condos), making it very difficult for pensioners, teachers, city workers, caregivers and other lower-income workers to find places to live without long commutes.




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