Quote:
Originally Posted by Johnny199r
I wouldn't go that far, but seniors who cry poverty living in a single detached home is annoying when they could sell the home and rent an apartment (and invest, generating income for retirement) quite comfortably with the proceeds.
Obviously, some of them refuse to consider that.
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The thing is having a detached home creates a fairly large burden on society. Government has to pay for all sorts of infrastructure to facilitate these homes: roads, electrical, drainage, water, sewers, etc...
At a certain point seniors will have to realize they can't physically keep up with the home either. When seniors stay in the homes too long, they often leave them in a state of extreme disrepair.
Because, unlike many other countries, of our property taxes being so low and our property skyrocketing in price, we've got a system where working families are now working to support the upkeep of homes they can't ever afford.
I do not have a lot of sympathy for empty nesters who refuse to downgrade to a smaller place.