The problem in the survey is that most boomers said they would remain in their homes. But how many have their homes paid off? Many took on additional loans…Many boomers thought they could sell their homes to fund their retirement.
You’ve hit the nail on the head. I don’t think you can entirely listen to what people *say* they’re going to do – they often have no clue. I often here that:
a) Boomers are using their home as a retirement piggy bank.
b) Boomers want to retire in-place.
If you want the equity, you must downsize or leave to somewhere cheaper.
