"They bought their homes when they were young, making money, and raising families. Now they’re empty nesters, in or nearing retirement, and living in houses that are too big for them.
But many older residents in Massachusetts who’d like to downsize — and turn over spacious dwellings to younger buyers desperate for room to expand —are finding it difficult, if not impossible. Even though their property values have ballooned, smaller homes or condos are scarce and carry prohibitive price tags in the state’s out-of-kilter real estate market.
“We’re just sitting tight right now,” said Mary Prosnitz, 66, of Wellesley. She and her 69-year-old husband, Jay, raised two sons, now grown, in the five-bedroom home they purchased 38 years ago and still live in."
A wide variety of housing types enables people of different means and at different stages of life to have viable housing options within a community. Different housing types allow for greater density in places where it is most appropriate, such as near transit and commercial, retail and business centers.Looking at the adjacent comparison between the mix of housing types in your community and Massachusetts as a whole, do you think your community is achieving the kind of diversity that fosters a wide variety of choices? Does your mix of housing structure types foster inclusion or exclusion? Are you making the most of the land available for development?