I also think that many of the baby boomers bought homes to get into the good neighborhoods and good school districts knowing full well that they did not want to “carry” the big house with big costs into retirement.
It was part of their “retirement plan” to sacrifice while raising the kids and make up for it later by cashing out.
But like I said in earlier post, many baby boomers have been cashing out all along the way (equity loans) and didn’t count on not being able to cash out.
The best thing some state could do right now is to make retirees offers they can’t refuse. This is how I see it, revive some of the dying urban areas and offer very nice small condos or cottages within walking distance to all amenities and great public transportation to and from adjacent metropolitan areas that offer state of the art medical facilities.
And, of course low, low taxes
