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

To: John Vosilla who wrote (28918)	3/30/2005 2:22:52 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

I can't talk my Boomer clients in these over priced bubble areas to even think about selling and moving somewhere cheaper. I have clients, friends and family members whose family incomes are in the 50-60k range living in 700k to million dollar houses with 100k mortgages who refuse to even think about selling. If they do take out equity it is usually to make some improvement in the house itself. It makes me crazy that people want to keep that much of their net worth in a house. They may change their minds as they get older, especially if they do wind up cash poor. I find that the older people get the less amenable to change they become.