Add up all the neglected costs of downsizing and retirees have good reason to be wary of making the move. It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing. [Article first published at https://theconversation.com/downsizing-cost-trap-awaits-retirees-five-reasons-to-be-wary-80895 on 31 July 2017.]
Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations.