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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Grainne who wrote (68813)	12/27/1999 11:42:00 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 108807

>>It would seem unfair to expect them to sell them to generate income, when they need to live in them.<< Why would it be "unfair"? If you or your husband lost jobs for whatever reason would it be "unfair" for you to sell your present home and buy something less expensive or even rent until your circumstances changed? Why should we believe that just because a person is elderly that there is some inherent "right" to live in a lifestyle that they can no longer afford? Quite honestly, retirees sell their homes for less expensive digs all the time in order to free up the cash equity they built up over the years. It's the practical and prudent thing to do if you're cash poor. What about reverse mortgages? But you've hit the nail on the head when you say that the real outcry would come from the children of the "house poor" elderly. They consider that to be their "inheritance" and birthright and God forbid Mom and Dad should sell the place and "spend down" the cash on a more comfortable lifestyle. I'm sure you've seen those bumper stickers that say "I'm spending my kid's inheritance"....Well, the truth is....if you haven't saved and invested adequately during your productive years, you really don't HAVE an "inheritance" to leave. I don't see any reason why the taxpayer should have to subsidize any individuals lack of stewardship over their finances in order to "gift" their children with an inheritance. bp