chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 14, 2007
- Messages
- 5,072
Home equity losses hitting retirees hard - USATODAY.comDeclining home equity is a problem that not only can force would-be retirees to keep working, it can complicate their eventual retirement in a range of ways. Many retirees, for example, have long counted on the proceeds from the sale of their homes to help pay health care costs and long-term-care expenses that they'll inevitably face.
I guess I am not surprised... there is much in the news about this...
But I still am a little flabbergasted that people saw their house as a significant source of money for retirement...
The only part that our house ever played in retirement... was a place to live with the goal of having it paid off by FIRE (i.e., out of debt).
I suppose I can relate a little. I can understand how it may affect plans to relocate.
We have a goal of downsizing/simplifying our home (not financially motivated). The housing situation could cause us to change our timing a little. But, I am going to proceed to prepare for a sale and try anyway (in the next 18 months). However, I am prepared to delay if things do not work out to satisfy us since there is no reason other than our desire to do it.