Older Adults at Greater Risk of Ending Up 'Housebroke'


Does older always mean wiser? Not when it comes to the foreclosure crisis. Jerry Anthony, Director of the PPC Housing and Land Use program has found that the chance of being "housebroke" was higher if the oldest adult in a household was 65 or more. In a recent FYI article, Professor Anthony discussed the many potential causes for his finding: low financial literacy in the US pre-2008, middle-aged and older adults' growing comfort with being in debt, and predatory lending practices, to name a few.