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Monday, November 02, 2009

Retirement Housing investments can go down and down as well as up.

Trying to make money out of people who want to retire (whatever that is) and move property is a risky business.

Of course success and failure is welded to what is happening in the wider property market but also to the financial health, or perception of health, of older consumers.

This article illustrates that Canada (British Columbia) is no different to the UK. The start of the article says it all.
Offering mountain view and golf on the doorstep, developers spared no expense to draw retiring boomers to British Columbia. Too bad about the timing, though: Utopia is now in creditor protection.
By its very nature property is a long term investment although if you tell that to somebody who bought at the peak of the market and who has seen their investment wealth shrink by 25%+ that insight may not be that welcome. Dick Stroud

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