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You misunderstand I think. When you retire you sell the expensive property and then buy a less expensive property in a cheaper area. If retired, then potentiall
by Eddy_Viscosity2 2y ago
You misunderstand I think. When you retire you sell the expensive property and then buy a less expensive property in a cheaper area. If retired, then potentially have fewer restrictions on where you live because you don't have to commute to work any more. The difference in property costs between the old and new areas is your nest egg.
- StopDisinfo910 2y agoYou will still earn the difference between the expensive property and the less expensive one. It will just be a lot less and that’s a good thing. Using properties as store of value or betting on them becoming more expensive have too many externalities. Your case for exemple is directly leading to people actually living and working in the less expensive places being displaced by retirees from the city which is very much undesirable for local life.
- Eddy_Viscosity2 2y ago> being displaced by retirees from the city This is true, but it also creates vacancies in the cities. The retired have to live somewhere..