SEATTLE: Older people should be given stamp duty exemptions and Government-backed loans to encourage them to move into retirement homes, an alliance of pension groups, insurers and retirement home builders has said.
In a letter, the group warns that not enough is being done to help the 60 per cent of older people who want to downsize.
They say that the benefits of encouraging people to downsize could be “huge” as it would free up homes for younger people and reduce the pressure on the public purse.
It urges the government to “go beyond first time buyers” and help the 60 per cent of old people who want to downsize.
The letter says: “Almost 60 per cent of old people are looking to downsize, and many want to move into modern, good-quality retirement housing in convenient locations.”…