Friday, Sep 17, 2010
"Key retirements survey reveals over-65's have not been hit by downturn"
FT: Retired homeowners gain in fragile market
Retired homeowners have total property wealth owned outright of up to £775bn, according to new research. Findings in the Key Retirement Solutions’ Pensioner Property Equity Index showed that homeowners over 65 gained a collective £7.94bn in the past three months despite the fragile housing market.The biggest winners were retired homeowners in Scotland who gained around £12,353 on average while pensioners in the south west were £3713 better off. The analysis also revealed that there were also losers among retired homeowners in the north of England. Pensioners in the northeast lost an average £5484 and those in the northwest suffered a £1643 drop.The 20-page report also revealed that nearly a third of property equity is owned by pensioners in London and the southeast of England.
4 Comments
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1. dill said...
Isn't that the idea, though. The remedy to the pension blackhole.
Does it work?
And if it does. Can it be carried forward, ad infinitum?
Most people who contribute here are so highly opinionated, that it's better to ask questions than try to provide answers.
2. enuii said...
Another misleading article that uses selective figures and does not disclose what they are based on or provide any supporting information with the selective article balancing statistic (again unsupported) that 'Pensioners in the northeast lost an average £5484 and those in the northwest suffered a £1643 drop'.
Why are these articles cobbled up from VI 'reports' considered newsworthy?
3. Crunchy said...
Don't worry, Bill Gates hasn't had time for them just yet.
He has teachers jobs on his mind at the moment and how their going to be funded by a state that's losing money.
He still has some time to make his choice.
4. mark wadsworth said...
Enuii - the 'research' is by an equity release company, now re-read the article with that in mind.
Dill, of course rising property values fuelled by debts on the younger generation can't 'fund people's retirement' because that is just a Ponzi scheme. Changes in property values have (in theory) little impact on our overall wealth as a nation, but in practice higher prices make us slightly poorer, and collapsing bubbles make us poorer as well ( as we are seeing). The best thing is low and stable prices and not the Fool's Gold with which Labour bought two elections.