3 ms·

Then they can cash out, realize their gains, buy a modest bungalow, and live out their golden years in style. Seems fine.

• jrd259 7y ago
  That "modest bungalow" might be 50 kilometers away. These "old folks" lose their entire local social network, and perhaps have to buy a car.
  • internet_user 7y ago
    a car that they might not even be able to drive. I never understood why people consider equity to be essentially equivalent to liquid money.
    • 2arrs2ells 7y ago
      Because home equity is highly liquid. You can refinance your mortgage (and take money out), or take out a reverse mortgage (which pays you monthly in exchange for eventual ownership), or a home equity loan. Tons of ways to turn your home equity into cash.
  • wffurr 7y ago
    In a sane world, they could buy or rent a reasonably sized apartment in the new development going up nearby.