Paces Ferry Managing Partner Speaks on Housing Market
Paces Ferry’s Zach Morris Quoted in Investment News Regarding the Housing Market and Retirees
What Does the Cooler Housing Market Mean for Retirees Who Want to Cash In?
Investment News recently published an article addressing challenges that the cooler housing market may place on some retirees looking to cash in on their home equity. Paces Ferry managing partner and founder Zach Morris is quoted toward the end of the article, which concludes on a note of optimism. Read on for a brief synopsis and be sure to read the full article here for all the details.
What Does a Cooler Housing Market Mean for Retirees?
The Investment News article begins with an explanation of the decline in home values and explores the premise that retirees who are willing to employ a “retire and relocate” strategy can still make money on their homes. However, this may not be the only option for those with significant equity, even in a more challenging housing market.
Reasons for Optimism
As Zach Morris explains, all is not lost for retirees who wish to remain in their homes and aren’t ready or willing to “retire and relocate.”
“There is such a thing as healthy debt, and after paying off a mortgage there are few alternatives to get their cash out of the house other than selling or borrowing against their residence at potentially higher rates than the mortgage they paid off,” says Morris.
To learn more about the issue, read the full article.