Every day, the generation that drove America's love affair with the automobile draws closer to
death retirement. And who better to help us figure out what that means than the AARP?
How long those 74 million people born between 1946 and 1964 continue to work, whether they choose to live in their suburban houses after their children leave home or whether they flock to city neighborhoods where they are less likely to need a car will have important ramifications for all Americans.
On the one hand:
Most boomers live in the suburbs and are expected to remain in the homes where they raised their children even after they become empty nesters. The housing bust has also trapped many older boomers in large homes whose values have fallen, sometimes below the balance of their mortgages.
On the other hand:
Demographers have noted an uptick in retirees moving to central cities where they're less dependent on being able to drive. Because there are so many boomers, if a significant number move to central cities, it could drive up housing costs and force cities to make greater accommodations for the elderly, such as more benches at bus stops or a slowing of the timing of pedestrian crossing lights.