I 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

I 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.