Search
 
News

McMansion remorse: Retirees’ palatial homes sitting unsold

Many retirees are having a tough time extricating themselves from the massive homes in lush locations that seemed such a good idea at the time.

large home Many retirees are having a tough time extricating themselves from the massive homes that seemed such a good idea at the time—but as age and infirmities encroach, now appear to be folly. (Photo: Shutterstock)

A decade and a half ago, Big Homes were the Big Thing as retirees rushed to sink lots of money into the massive Sunbelt homes they perhaps had dreamed of for years. Real estate was booming and it was all too easy to follow that dictum memorialized on cutesy plaques in souvenir shops: “House—a hole in the ground surrounded by wood into which one pours money.”

That’s turned out to be literally true in many cases, according to a Wall Street Journal report that says that many of those same retirees are having a tough time extricating themselves from the massive homes in lush locations that seemed such a good idea at the time—but as age and infirmities encroach, now appear to be folly.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

Dig Deeper

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.