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Real Estate: Tom Kelly
The Real Estate Adviser |
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March 26, 2009
The Real Estate Adviser: Will boomers retire with any assets left?
By Tom Kelly
Special to the Journal
Special to the Journal
Baby boomers — the largest, healthiest and wealthiest group ever appearing on the U.S. landscape — never met a loan they didn't like. After leveraging appreciation and location in their starter and move-up homes to pay for cars, college tuitions and trips, their home probably holds most of the equity in their lives.
According to a new report by Washington, D.C.-based Center for Economic and Policy Research (CEPR), that home is not worth what it used to be. Coupled with the recent turmoil in the stock market, many boomers will be completely reliant on Social Security and Medicare to support them in their retirement years.
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Previous columns:
- The Real Estate Adviser: 30-year, fixed rate may not be your best option, 03-19-2009
- The Real Estate Adviser: New reverse mortgage rules will help seniors, 03-12-2009
- Clean credit will save you more than money, 03-05-2009
- Tom Kelly: ‘Qualified' buyer? Better be ‘perfect' to get a loan, 02-26-2009
- The Real Estate Adviser: Exploring financial options for seniors, 02-19-2009
- The Real Estate Adviser: Stimulus has little help for homeless, 02-12-2009
- The Real Estate Adviser: Where are the country's low risk home markets?, 02-05-2009
- The Real Estate Adviser: Is this the year the kids buy you out?, 01-29-2009