Wednesday, September 20, 2006

Let’s just wait for the great ‘Baby Boomer’ sell off

Half will sell home to fund care

Half of those nearing retirement will be forced to sell their homes to pay for nursing care bills, says an alarming study.

Posted by uncle chris @ 11:01 AM (602 views)
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5 thoughts on “Let’s just wait for the great ‘Baby Boomer’ sell off

  • tyrellcorporation says:

    Mmmmm, those people eyeing Granny’s £480k two-up-two-down in Ealing will now start to panic as they thought they were in for a windfall when she popped her Hush Puppies…

    I hate to say it but it’s all looking very dicey for the future. It’s a non-stop trickle of news stories bearing out our rants over the last two years – Gordon’s miracle ‘house-of-cards’ economy is well and truly swaying in the breeze…

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  • Hasn’t this always been the case? Houses going to help fund retirement homes?

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  • But who are they going to sell to ?

    Not me……. !!!!!

    well…… not yet anyway

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  • Tyrell….
    Yes, sometimes it’s downright unpleasant having been right. Especially when, by the time the point is taken, there’s no going back and trying another tack.

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  • The squeeze….
    Certainly this has happened to people in the past — using home equity to fund nursing home care. But I’ve never had an impression of a figure anywhere near 50% — not in ANY country, let alone one that purports to fund elderly care as part of the social system. Even in the USA where there is NO social support for care homes would you likely find so high a percentage as this.

    This diminished availability of affordable care homes would seem to go hand in hand with underfunding for the NHS, roads, public transport, firefighters, police, pensions, and nearly any other tax supported public benefit one can imagine. Which begs the question: WHERE DOES ALL THE TAX GO?

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