Downsizing in retirement might not bring savings

12/10/2012 | Wall Street Journal, The

Lower property values mean that baby boomers who downsize their homes may not experience much of a financial win, experts warn. Even when the housing market was booming, seniors who downsized walked away with an average of $26,000 after purchasing a new home, one study found. In addition, some retirees find that their new homes come with costs similar to their old ones, or that they continue spending on leisure activities.

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Wall Street Journal, The

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