3 ms·
Oph. This is going to be bad for a long time. I'm not an economist but here are my basic thoughts: 1. Inflation has caught up to them 2. The lack of stable pl
by monksy 8y ago
Oph. This is going to be bad for a long time.
I'm not an economist but here are my basic thoughts:
1. Inflation has caught up to them
2. The lack of stable planning for those retiring
This is going to devastate the middle class/lower class in expensive markets (I.e. CA and NYC where the parents support their kids starting out and in jobs where they can't sustain their lifestyle without extra support)
- volkl48 8y agoI actually think older americans in those expensive markets are relatively better off, assuming they own rather than rent. At least at present, their homes are worth a considerable amount. Selling them off and moving to a comparable or smaller home in a low-cost area can make up for a significant amount of their failure to save adequately otherwise. Obviously, that may not always be what they want to do, but at least they have an asset to work with. Those who are facing the same predicament and already live in the low-cost area, don't have that option.