Tag: downsizing
How to get seniors to spend $12 trillion in home equity. Recently, I read an opinion column arguing that older Americans are hoarding the nation’s wealth and housing stock. To reduce their power, the author suggested things like the reintroduction of mandatory retirement ages or the creation of a progressive tax on homes to encourag…
Many older Americans could benefit from using home equity for some much-needed income in retirement. But they have found many reasons not to. Some want to preserve that housing wealth for their kids. Others don’t like the idea of cashing in on the equity if it means relocating to a smaller house or apartment or…
