Older Americans Downsizing could Increase Housing Inventory

As the U.S. continues to face a shortage of available homes, some may be looking at those occupied by “empty nesters” as an incoming source of inventory. As older residents begin to downsize, the thinking goes, the millions of homes they currently own will fill the deficit, thus bringing housing costs down. 

The reason is simple: Empty nesters — which Zillow defines as “residents ages 55 or older who have lived in the same home for 10 or more years, have no children at home and have at least two extra bedrooms” — don’t live in the same places where younger generations want to be.

Around 20.9 million households fit the definition of empty nesters in 2022 and out of the 50 biggest U.S. cities, they have the greatest concentrations in Pittsburgh, Pennsylvania; Buffalo, New York; and Cleveland, Ohio. But the cities with the most people under 44 are San Jose, California; Austin, Texas; and Denver, Colorado, Zillow reports.

3 Things To Learn From The approach To A Long, Healthy Life

• Most longevity experts follow time-restricted eating.

• They have cheat meals and non-negotiables.

• Connecting with others is really important to them.

Stocks climb in 2024’s most widely-shared rally

‘Twas the night before Christmas, and not a trader was stirring: total volumes across the US tape were the second-lowest of the year, trailing only July 3. Stocks rallied in light trading with the S&P 500 up 1.1%, the Nasdaq 100 gaining 1.4%, and the Russell 2000 advancing by 1% in the half-day of trading.

Every S&P 500 sector ETF rose, from health care on the low end to consumer discretionary at the top of the leaderboard as Tesla TSLA $465.35 (7.40%) was the most heavily-traded stock and the biggest gainer on the benchmark US stock index. Financials also put in a gain of more than 1%.

The advance-decline line for the S&P 500 was a whopping +415, its best reading of 2024.

Only two stocks in the entire index fell by 1% or more: Walgreens Boots Alliance WBA $9.19 (-1.08%) and Celanese CE $68.55 (-1.05%).

• Elon Musk's xAI lands $6B in new cash to fuel AI ambitions.

• Netflix taking on live TV — and is ready to take on the NFL.

• Hundreds of American Airlines flights delayed after glitch briefly grounded planes.

• The AI hype will die down.

The median net worth of US retirees aged 65 to 74 is $410K.