The global consultancy firm has released a new report warning that the expectation of parents that they will be able to pass the family home down to their children “may be nearing extinction for the middle classes”.
Their research shows the current model will become increasingly unsustainable, with the shift towards a ‘User Pays Model’ forcing Australia’s ‘asset rich income poor’ population to turn to the family home to pay for care.
They also expect an increase in the popularity of reverse mortgages and other equity release products.
Read the full report here.
