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This assumes that you never sell your house to fund your retirement. High house prices also imply higher real estate taxes, which pressures the older generation
by mathgeek 10y ago
This assumes that you never sell your house to fund your retirement. High house prices also imply higher real estate taxes, which pressures the older generation to sell.
- rwmj 10y agoThe UK real estate tax ("council tax") is ridiculously small even at the highest levels. Even if I was in a multi-million pound property, the maximum I'd ever pay would be £3.5K annually, and for most houses it's less than half that.
- mathgeek 10y agoThings are different depending on locale. Here in the US, retirees living on a fixed income where their house is most of their net worth have it very different from the wealthy in the UK.