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Posted: 12:05 AM Jun 29, 2011
Housing Rebound?
Nearly two years into the recovery, and our housing market is all but paralyzed, due in no small part to a flood of foreclosures.
Reporter: Troy Kinsey Email Address: news@wctv.tv |
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It's a new house and a new deal Randy Cable couldn't help but nail down.
Especially not with his retirement in jeopardy.
Four years ago, he quit working at the age of 60, confident he and his wife would have plenty of money to get by in their golden years.
Then the financial crisis came, along with everything else.
Cable says, "Health insurance premiums for me have more than doubled in the last four years since I retired, the deductibles have increased substantially, gas prices going up, food prices going up, and all of a sudden that retirement income in shrinking and shrinking and shrinking."
So, Randy's downsizing, having just bought this new home, roughly half the size of his old one.
There's no question countless boomers have gone bust.
But so has Florida's housing market, and all things being equal, buying that Florida dream home may not be that far out of reach.
Latest Comments
My electric bill hasn't doubled, neither has my grocery bill. My gas bill didn't double either. You must be reading the bill wrong. Can I sell you some gas for double what I pay?
The price of a house is really only what someone will pay. The realtors know this, and they can't just make up prices for houses. The buyers are fully capable of making offers for less, and they really should.
The needy didn't blow 800 billion on a dumb war. If you need to cut corners you can't do that.
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