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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (12907)	8/21/2003 11:14:29 PM
From: biometricgngboy	Read Replies (1) \| Respond to of 306849

Equity release is no cure-all By Robert Cole JUST like practically everyone else, pensioners are cashing in on the boom in residential property prices. Figures from the Council of Mortgage Lenders published yesterday showed that retired people liquidated twice as much money by taking equity out of their homes in the first half of 2003 compared with a year earlier. timesonline.co.uk

To: Lizzie Tudor who wrote (12907)	8/21/2003 11:17:16 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

jointventure.org i think the record surge in ipo's and venture capital during the bubble and attendant job "creation" from now defunct companies was much more the culprit for the bidding up of SV RE than prop 13 and most certainly NOT due to the mere 9 percent of elderly who were living there at the time. so it appears to me there was a considerable influx of what turned out to be temporary workers who are now firmly ensconced in homes that were bought at a premium (just look at the age break down in the study i've linked to you) i'm certain that those who still have jobs of aren't selling at a loss so one could argue that it is they who are keeping the supply of affordable homes off the market, most especially since their numbers far outstrip the numbers of the elderly.