5 ms·
This is the primary way for citizens to acquire wealth too, and the primary source of boomer wealth. The politics of this thing transcends the current Red/Blue
by fullshark 3y ago
This is the primary way for citizens to acquire wealth too, and the primary source of boomer wealth. The politics of this thing transcends the current Red/Blue paradigm, at least until battle lines will get drawn with various policy prescriptions and the winner/losers of each of them chooses a side.
Will be the biggest issue facing American politics for the next 10+ years I think while the Boomers age and try to cash out.
- davidw 3y agoIt really is interesting to see how it does not fall along partisan lines. This leads to both good and bad surprises, where you find unexpected allies - as well as foes.
- scroot 3y agoIn the US the boomers are in for a world of hurt. Senior care is extremely low quality, increasingly scarce, and already unaffordable. The US medical system is completely unprepared for that entire generation to age out. It is already a crisis. At least they can spend down money from their homes to pay for some of it. The subsequent generations probably won't be as lucky.
- dwater 3y agoHealth care and senior care will end up being a massive wealth transfer from the boomers to the wealthy, as they finally turn their paper real estate wealth into hard dollars that they can spend. The financially lucky amongst their children will be those who have to experience the tragedy of their parents dying early enough to die healthy and leave their wealth behind.
- downrightmike 3y agoExcept that boomers have and are already cashing out, that wealth is used up because they didn't save and Social Security doesn't cover much. Reverse mortgages and Heloc loans destroy generational wealth. Nothing will be passed down to most kids.
- panzagl 3y agoThe California or Washington couple who sold Mom's house and moved here to start their lifestyle business is a common story in many western states.