[quote=CA renter] …. You’re also forgetting about the elderly people who have no savings outside of the house, and when they/the kids want to put them in a home or have them live with one of their kids, so they sell the house to help pay for this…[/quote]
The 75+ yr old demographic that I’m seeing have Tricare for Life at very little cost out of their military pensions and/or: union pensions, plenty of savings and rentals and other comm’l property which one or more of their children are managing. They don’t need to worry about “being put into a home” by one of their children. They have their EOL docs in order. I also see widows/widowers having local meals on wheels delivered at least 5 days per week and have a part-time companion to help them out with household maintenance and errands and a gardener. Their children help them with home repairs, as needed. Many of the WWII and (dwindling) Greatest Generation homeowners I come into contact with (yes, 85+ yrs old) are still driving and have absolutely no need whatsoever to liquidate their home equity. As a matter of fact, a good portion of them are no doubt still saving due to having “double-dipped” on their pensions in their working years and have way more income coming in than they need to survive month to month.
