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My parents bought their house in the 1980s. They paid it off 100%. When they retired they moved. Would it have been preferable to keep the house the whole fami
by krschultz 13y ago
My parents bought their house in the 1980s. They paid it off 100%.
When they retired they moved. Would it have been preferable to keep the house the whole family grew up in? Probably. But they couldn't afford the overhead of utilities, maintenance, etc. They moved to a smaller house in a state with lower property taxes.
They too left their friends, contacts, etc. Built up over living there for 35 years. But it was the responsible decision to do it. Why should it be everyone else's burden if they make a stupid decision to stay put in a place they can't afford? Is that a right?
Especially when seniors have the dual safety net of Social Security and Medicaid - they are generally in a better shape than many working class people. The landlord paid her $14k just to move out. That with social security would absolutely cover living expenses in most of the country.
- rtpg 13y ago>Why should it be everyone else's burden if they make a stupid decision to stay put in a place they can't afford? Is that a right? Obviously utilities going up should be considered in rent, but in a property tax-free world, someone staying is not a burden on the owner, except in the "he could be making even more money". The owner ends up making less because they might not be market value, but considering that what he's doing is rent-seeking anyways, there's not that much moral high ground for the guy who wants to increase rent just because of "the market". Obviously these problems are nuanced (and economists seem to all agree that rent control = bad )
- Kliment 13y agoSomeone staying can be a burden if said someone is destroying the property or causing conflict with other people living there.
- refurb 13y agoSlight quibble: seniors get Medicare, not Medicaid. Medicaid is for lower-income folks and the disabled, except some disabled who get Medicare. However, you can be eligible for both (so called-dual eligibles). ...I'll see myself out....
- krschultz 13y agoUpvoted for the correction, appreciated.
- cryoshon 13y agoPfft, "responsible" my ass. They left the life they built behind because they couldn't afford to keep it. That's horrendously sad.
- krschultz 13y agoIn theory yes, in their specific case they are a lot happier. Moved to a warmer climate, their neighborhood has a lot of people their age and they have many new friends and enjoy it. They still come back and see the old friends & family often enough. Overall a great decision, but definitely influenced by the fact that paying for the house they had owned the last 30 years did not make sense for 2 people - and there aren't really cheaper options in the area.