Tuesday, August 16, 2011
Light at end of the tunnel for the Priced Out Generation
"Millions of over-50s fear they will be forced to sell their family home to cope with the soaring cost of living, research reveals today. One in five worry they will have to â€˜downsizeâ€™ to generate enough cash to pay the bills, according to a report from Saga. They fear that the rising price of everything from domestic energy to petrol and food, as well as higher taxes and rock-bottom savings rates will squeeze them to the point where they will have to sell up." Righty-ho. They'll not get much sympathy from me, as these are exactly the people who expect young people to pay all these costs, pay for bringing up children AND to vastly overpay for a house.