[quote=Straker;83415307
If they can't afford to live in an empty house that's now worth hundreds of thousands due to an increase in value then sell it and downsize, freeing up some cash they can then plough into Werthers Originals shares or coats for their tiny dogs.
.[/QUOTE]
That isn't as easy as you might think. My older family members have been trying to downsize from their 3 bedroom semi to a 2 bedroom property for the past 4 years. To start with there are very few 2 bd props around so prices remain at a premium, and by the time they have forked out the nigh on £20,000 it costs to move (solicitors, surveys, estate agents, removal vans, etc) they would need to take on a mortgage which is impossible for couple in their 70s.
Yes, houses bought years ago are worth thousands & thousands more than the original sale price, but unless people managed to buy outright using cash, then the original price is not what they will have paid in real terms. At one time interest rates were up to 17% - unlike todays almost nothing - and multiply that by the average 25 years, and you'll find their houses were not that cheap after all.
BTW Werners are YUK, and who can afford to keep a dog, tiny or otherwise!!!

