Tuesday, Dec 01, 2009
Expectations on the rise
BBC: Homes 'used for pension top-ups'
Many people are still relying on cashing in on the rising value of their property to fund their retirement, according to a survey. Some 12% of the over-50s have consciously saved less into pension schemes because they expect property values to rise, says insurer LV. However, they have seen an average of £27,250 wiped off their property values in the past two years. Those approaching retirement said they had been worst hit, the poll found.
Posted by jack c @ 11:17 AM (544 views) Add Comment
6 Comments
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1. will said...
"around a third believed that house prices would recover in three to five years"
So what do the other two thirds believe house prices will do ?
2. Puppee said...
houses are meant to be for living in not investments , the sooner people realise this and property falls to an affordable level the better off the economy of this country will be in the long run
3. crunchy said...
1. The other two thirds believe house prices would recover in six months. Everything will, will.
4. Colly_wolly said...
So the majority of the owners are in the baby boomer generation.
Many of them, like my parents, still believe that their house is worth what it was at the peak. At the moment there is apparently a correction, but lack of properties available preventing a real crash.
In a few years time all these boomers will plan to retire at approximately the same time. The shortage of supply will change to a surplus, and the real crash will begin.
5. crunchy said...
4. Colly_wolly, perhaps you should do some searches on governments encouraging the elderly to remain in their own homes for as long as possible.
6. crunchy said...
http://www.telegraph.co.uk/health/healthnews/5702725/No-need-for-elderly-to-sell-home-to-pay-care-bill.html
This will get you going!