“The fact that we are seeing elderly homelessness is something that we have not seen since the Great Depression,” University of Pennsylvania social policy professor Dennis Culhane told WSJ.
Now, the over-50 demographic represents half of the homeless single adults in the U.S. — with no sign of their numbers slowing, leaving baby boomers (those aged 57 to 75) particularly vulnerable.
“It’s an entirely different population,” said Kushel. “These are people who worked their whole lives. They had typical lives, often working physically demanding jobs, and never made enough to put money away.”
I’m hoping that Gen X, Millennials, and Gen Z are looking at this with due concern. There won’t be any excuse for naivety when their turn comes.
Age 18 to age 50 is a 32-year runway to get preventative policies off the ground. Vote accordingly.
Here’s the deal…and it applies to everyone. As you make money, there will be many, Many, MANY things you want along the way but…you MUST deny yourself those wants and save it for your needs.
There most likely will be a partner in your life…put them first. Work together to take care of your NEEDS both personal and professional.
After a couple of decades, the money you have saved will begin working for your too. It may be in that house you purchased and kept contributing above the monthly payment to bring down your debt. When you sell it and it’s your primary residence, the first $450,000.00 is tax free.
Denying your wants along the way in life, insures you’ll have the money at retirement for your needs. It’s up to you to decide along the way and life…is all about…those decisions. You weren’t dealt a lousier hand than anybody else, it’s how you play your hand that has the greatest impact regarding your results in life.
How’s this possible? Aren’t we being told that all these impoverished, uneducated, unskilled, non-English speaking, homeless people should be welcomed so they too can live the American dream?
It isn’t my children that I worry about after I’m gone, it’s my grandchildren. The world is getting crazier and crazier. In God we trust appears to be leaving our culture. Public education has declined greatly. The negative forces are increasing, while the positive ones IMO are decreasing. That said, I don’t want anything for myself but I do want them to have their “needs” taken care of. Hopefully before I die, I’ll have figured out the best gameplan to insure what I want for them to happen and set up some sort of trust.
Many years ago, the model was three generations living in the same household.
My parents took in my grandparents as well as my Great Aunt.
Grandpa eventually had to go to a facility as he had Parkinson’s and the aunt had dementia. Grandma died at home.
My parents lost everything in 2008. I worked my butt off to send them enough money to keep their home in NC. They stayed with me (a 1600 sq ft home) on and off when they came to Florida.
I have to ask, for a lot of these folks, do they not have family who would take them in?
There seems to me to be a movement to destroy single family home ownership, push them out, and build multi-family housing that can only be rented. And therefore the tenants controlled.
Tenant is very different than owner.
:a person who occupies land or property rented from a landlord.
Even home “owners” are really just tenants renting from the government.
Owners have rights. Just another diminishing of citizens into subjects.
Once the impoverished class outnumbers the middleclass they then can elect politicians who will tax the middleclass to give to the impoverished class. That’s the endgame of the Left.
The link between the cost of single family homes and
homelessness is tenuous-to-non-existent.
(It is like playing 7 degrees of Kevin Bacon.)
That said the Fed directly-owns 22 percent of all mortgages (down form 33% only recently.)
I have no figure on what percent of the owner-occupied mortgages it holds.
