That's the irony of rising house prices, your house may have doubled but so did the price of every other house
When you cash in and sell where are you gonna live, when the price of other homes are the same or higher than yours
Even if you settle for sub-strandard cheaper homes those are expensive too and unless you made close to a million or more on the sale your wealth is still gonna take a huge hit, to say nothing of buying homes people actaully WANT to live in, in which case you'll lose most of that liquid wealth you spent decades sitting on
Of course they could always try their hand in the house flipping racket, but that's kinda of a young man's game now, considering all the distracting hospital visits these embrassed millionaires will be making in the coming years
It's almost like capitalism is starting to suck even for the people who "bought into" it
That's the irony of rising house prices, your house may have doubled but so did the price of every other house
When you cash in and sell where are you gonna live, when the price of other homes are the same or higher than yours
Even if you settle for sub-strandard cheaper homes those are expensive too and unless you made close to a million or more on the sale your wealth is still gonna take a huge hit, to say nothing of buying homes people actaully WANT to live in, in which case you'll lose most of that liquid wealth you spent decades sitting on
Of course they could always try their hand in the house flipping racket, but that's kinda of a young man's game now, considering all the distracting hospital visits these embrassed millionaires will be making in the coming years
It's almost like capitalism is starting to suck even for the people who "bought into" it