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AARP data on people older than 50 and status of mortgage

By FunTime   Follow   Tue, 24 Jul 2012, 11:13am   597 views   4 comments
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http://www.aarp.org/content/dam/aarp/research/public_policy_institute/cons_prot/2012/nightmare-on-main-street-AARP-ppi-cons-prot.pdf

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1. tts Follow Befriend 2 threads 470 comments

   1   5:22am Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   Lots of good information in there. The tl&dr version is: things aren't as bad for the housing market as they were in 2009-10 but are still pretty awful. Foreclosures will be high for a long time which will effect supply and further drive down home prices. Also many home owners in the 50+ age group have no home equity at all, so reverse mortgages as a hail mary retirement strategy aren't going to work for a very large number of people...

2. lisalisa Follow Befriend 1 threads 79 comments New Lenox, IL

   2   9:41am Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   those in that age group...( i.e my parents ) who bought when a brownstone was 16K in the 50's still had plenty of equity to pull $ out... before they passed on. But I understand their are others that are not in that situation. Glad you believe the prices are still heading down...

3. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 171 threads 4,227 comments Premium

   3   9:56am Wed 25 Jul 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   Anyone over the age of 40 who hasn't paid off the note will drag it to hell with them.

4. FunTime Follow Befriend (3) 38 threads 801 comments San Francisco, CA

   4   10:25am Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   One of my grandmothers almost just did! She's going to heaven, of course. She survived, but will almost certainly drag past this life one or two HELOCs that allowed her to put a closet in her condo in 2005, or so.