Wednesday, February 10, 2010

But my house is my pension..

A generation in denial: Millions face retirement poverty because they've remortgaged their homes and saved too little

"Millions of people approaching retirement are being hit by a crippling combination of large mortgages and no savings."

Posted by phdinbubbles @ 08:00 AM (1024 views)
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4 thoughts on “But my house is my pension..

  • The all or nothing generation. If you did what the tv experts told you to do and leveraged/geared to the hilt and, (this is a big and) got out at the right time (they forgot to tell you that bit, but Booby Beeny knew) you are now sitting in the ‘all’ camp. How many did that? Smugdog?

    That leaves many in limbo, not forgetting the generation sacrificed as rental slaves to a system that was only ever going to benefit a few.
    There seems to be a theme running here and it is still continuing to this day and with the bailouts, long into the future.

    Criminal? No, just politics. Well that’s OK then! Crime is now politics, make sure you remember that when things really get tough.

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  • mark wadsworth says:

    Aha! The Mail finally wakes up to the ugly side of Home-Owner-Ism!

    How’s about scrapping the MPC and mortgage subsidies and introducing Land Value Tax and dishing out a disproportionate part of it as “land value tax credits” to pensioners so that the majority end up slightly better off? If those who win out (because they live in a small house) feel guilty about the mythical widow-in-a-mansion having to downsize, I’m sure they will be only too happy to repay some of their LVT credits into a special charity to subsidise her 🙂

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  • I’ve no sympathy for these avaricious half wits.

    To use an old fasioned expression, they’ve made their bed, now they must lie in it.

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  • Never, ever, wake up a generation in denial.

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