In the latest installment of the REALTOR® University Speaker Series, Stephen Goss, Chief Actuary of the Social Security Administration and Stephanie Kelton, Chief Economist of the Senate Budget Committee, discussed social security, the aging population, and housing demand—as well as answered questions on social security funds and the state of social security.
The live Webinar took place on Monday, February 9th, but if you were unable to attend or want to watch the presentation again it can be viewed here, on the realtor.org website.
Here are some highlights from the presentation and what you need to be aware of as a REALTOR®:
- The generations behind the Baby Boomers will be smaller than the Baby Boomers. The under 20 population is shrinking.
- The population growth is slowing in the U.S. The reason for population slowing is declining birth rates.
- People today are living longer, which also contributes to a changing age distribution on top of slower overall growth.
- About 1/2 of people retiring receive benefits beginning between ages 62 and 63.
Thanks to all who participated and stay tuned for announcements on the next session of the Speaker Series!