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Housing market’s collapse seems to be slowing ‘Boomer’ retirements

I just saw an interesting clip on the NBC Nightly News broadcast about the many Baby Boomers who are being forced to forgo retirement -- primarily because they relied upon increased home values to fund their "sunset years."

Well, as one of those Baby Boomers myself, I can appreciate the problem. In my case it would only be a small part of the problem, because I've known full well that my old house hasn't skyrocketed in value and I never assumed I'd be able to sell it, take the money, and run.

But I understand the pain of many who are truly suffering investment losses because of decreases in housing values. (Even more, the pain of those facing foreclosure on their homes!)

Whether we own resort land for sale Branson, Missouri, style, or simply a small lot somewhere, you and I have been "taught by Realtors," as the news report put it well, to believe that land and homes will always retain their value. Now, I guess, we're going to have to modify that a bit: Land and homes will PROBABLY regain their value. But we probably will need to wait awhile.

And that means even we Baby Boomers coming close to "retirement" age will need to wait, too.
[tags]Baby Boomers, retirement age, decreased home values, decreased land values, just a guy who reads the papers[/tags]