An AP article reports that workers are retiring later. It cites as one of the factors the decline in the stock market. Since the vast majority of workers have very little money invested in the stock market, its effect on retirement decisions is likely to be limited. On the other hand, the vast majority of older workers do have a home. The plunge in house prices over the last two years is likely to have a large impact on retirement decisions. For most of these workers, the drop in house prices will have destroyed a large segment of their wealth.
--Dean Baker
