suburbs. Moreover, during the late 2010s, Millennials and seniors in the U.S. were driving up demand for affordable housing outside the major cities; to prevent another housing bubble, banks and regulators have restricted lending to filter out speculators and those with bad credit. According to the Organization for Economic Cooperation and Development (OECD), elders in nations where people typically retire late like Sweden and Switzerland tended to experience memory loss at a rate twice as slow as their counterparts from countries where people usually retire early, such as France. Evidence suggests that those who remain mentally active are more likely to maintain their faculties. By the mid-2010s, it has already become apparent that China was facing a serious demographic crisis as the population of retirees boomed while the number of working-age people shrank. This poses serious challenges for any attempts to implement social support for the elderly and imposes constraints on China's future economic prospects. In 2018, about 17.8% of China's population, or around 250 million people, was at least 60 years old. The Central Government has been considering raising the retirement age, like many other countries have done, though this is controversial among the Chinese public, who dislike postponing their pensions. As of 2020, China's retirement age is 60 for men and 55 for women working for the government or in other white-collar jobs. But China's demography is such that the nation's pension funds will be "insolvent" by 2035 if current trends continue, according to an official report. The COVID-19 Pandemic may have sped up some Baby boomers exit from the workforce. In the United Kingdom, data collected by the Institute for Fiscal Studies in June and July 2020 showed that 6% of those aged 66–70 and 11% of those aged 71 and older who were working immediately before the crisis had retired, half of whom had not previously planned to do so. In the United States, Pew Research Center reported that the number of Baby Boomers in retirement had increased by 2.3 million in 2020 the largest annual increase since the oldest baby boomers turned 65 during 2011. This surge in the number of retirees contributed to the labor shortage as the country recovered from the pandemic. Financial position In the United Kingdom, the rate of home ownership of baby boomers was 75% and "the real value of estates passing on death has more than doubled over the