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by jrd259 2344 days ago
That "modest bungalow" might be 50 kilometers away. These "old folks" lose their entire local social network, and perhaps have to buy a car.
2 comments
wffurr 2344 days ago
In a sane world, they could buy or rent a reasonably sized apartment in the new development going up nearby.
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internet_user 2344 days ago
a car that they might not even be able to drive.

I never understood why people consider equity to be essentially equivalent to liquid money.

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2arrs2ells 2344 days ago
Because home equity is highly liquid. You can refinance your mortgage (and take money out), or take out a reverse mortgage (which pays you monthly in exchange for eventual ownership), or a home equity loan. Tons of ways to turn your home equity into cash.
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