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Do You Need to Own a House? Many Older Americans Decide They Don’t

Rising property tax, insurance and home-repair costs are prompting some people 55 and older to consider renting

Clare Ansberry

ET

Woman sitting on patio of a new patio home in a 55+ community.
Claire Kerr sold her home and moved into a rental in a 55-plus community. Photo: Claire Kerr

Claire Kerr wanted to downsize from her five-bedroom, four-bathroom house after her children were grown. 

Rather than buy something smaller, the 64-year-old marketing manager at 7-Eleven decided she was tired of maintenance and repairs. So she sold her house and rented a two-bedroom home with a front porch and attached garage.  

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