Forget the beach: Many boomers are retiring where they are

10/27/2011 | Sun News (Myrtle Beach, S.C.), The

A poll found that 52% of baby boomers plan to retire where they live now instead of buying a new home elsewhere. Four in 10 say they'll keep the same home. Analysts say that retirees and near-retirees, having seen their home values and savings shrink in the recession, now view homes as a liability. "They envision the home as a problem, not an asset, and this unshakable belief in homes as a tool for retirement has been shaken to the core," said Barbara Corcoran, a real estate consultant.

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Sun News (Myrtle Beach, S.C.), The

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