It's no secret that foreclosures hurt home values in the neighborhood but how much will the stabilization of home prices help retirement planning? 

According to a new paper by the Center for Retirement Research at Boston College, elderly households will be facing increased housing distress during the next two years due to declining home values, high mortgage payments, and interrupted income.

The paper identifies that almost 7% of elderly households surveyed have children or other relatives who are also experiencing housing distress that eliminates a support mechanism for payments that may fall into arrears. 

If a significant portion of wealth is in housing assets, government officials need to focus on creating a more stable housing environment to assist in liquidity for retirees so that downsizing is a real option rather than spending down assets.  Near-term solutions for home price stabilization may help younger seniors and Baby Boomers fortify their retirement assets and should be considered as part of the Obama Administration's plan to help all Americans prepare for some hard fiscal choices and consequences about Social Security and Medicare/Medicaid changes in the coming years.

Whether your in foreclosure now or worried about it in the future, we have information that can help.

                                                        Call AKDS Today! 1-855-GUIDING

 

Copyright © AK Debt Solutions 2011- Foreclosures, Home Prices and the Effect on Retirement Security

Angela Kelly

Principal/Sr. Debt Analyst

1-855-GUIDING

 

2 Comments on Foreclosures, Home Prices and the Effect on Retirement Security

FEB
02
2011
870,429 Points Outside Blog Called Shot Master

Angela - You are right, declining house prices will effect retirement security. Thanks for the information.
12:08am • #1

Thank you John, I appreciate the positive feed back.
12:55am • #2


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Angela Kelly Your Credit Repair Expert

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