Retirement Communities Seek Younger Residents

Housing bust leads to 'age desegregaton'
By Nick McMaster,  Newser Staff
Posted Dec 1, 2008 12:15 PM CST
Many retirees have chosen their communities specifically for their age restrictions, but the housing downturn is forcing many to lower limits or do away with them entirely.   (AP Photo)
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(Newser) – A rash of vacancies caused by the ugly housing market has prompted many retirement communities to consider lowering, or even eliminating, age restrictions, the Wall Street Journal reports. Many of the communities enjoy lower taxes, and child- and teen-free living appeals to some seniors. But what's being call "age desegregation" may be necessary to keep these enclaves afloat during the economic downturn.

The popularity of age-restricted living has been waning since 2000—9 in 10 people in a recent AARP survey said they’d prefer to “age in place”—and the housing market’s stress may precipitate further withdrawal. Living with mixed ages “seems like a more natural way to live,” said one New Jersey retiree.