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re: The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 9:20 am to Odysseus32
Posted on 3/5/24 at 9:20 am to Odysseus32
quote:
My opinion, just based on knowing the share of folks I do who are in their late 60s - early 80s, is that they will burn all of the money they have left kicking and screaming before downsizing homes.
If they can afford it, and many can, why should they choose to leave the home they love? Besides, most of them have paid off houses. I'm not leaving my paid off house until I can't walk up the stairs.
2
Posted on 3/5/24 at 9:22 am to LaLadyinTx
quote:
If they can afford it, and many can, why should they choose to leave the home they love? Besides, most of them have paid off houses. I'm not leaving my paid off house until I can't walk up the stairs.
Based on what my early-boomer dad is going through, it's more the fear of leaving a place he's been for over 30 years.
Posted on 3/5/24 at 8:01 pm to LaLadyinTx
quote:
If they can afford it, and many can, why should they choose to leave the home they love? Besides, most of them have paid off houses. I'm not leaving my paid off house until I can't walk up the stairs.
It probably has more to do with the fact that this country is becoming overpopulated. There’s too many damn people emigrating here illegally and legally. That exacerbates the demand for housing which skyrockets property values.
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