Top 10 reasons people postpone retirement
3. Their homes are mortgaged to the hilt or can't sell in the current market
Some boomers dream of moving someplace new and affordable in retirement. But realizing that dream is getting harder. According to Miller, 63 percent of people in their late 50s and early 60s are carrying mortgage and home-equity debt, up from 49 percent in 1989. Since the housing bubble burst, it's gotten a lot harder to sell. Between 2005 and 2010, mobility rates among older US homeowners fell 39 percent, the sharpest drop of all age groups, according to a report from Harvard University's Joint Center for Housing Studies.