You’re the only one who said anything about nursing homes. I was thinking smaller houses more appropriately sized for one or two people. There’s just no reason for seniors to keep living in family sized homes. Downsizing isn’t a bad thing.
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I never said people can’t decide where they want to live! Seniors often feel forced to stay in their big family homes because there often aren’t many other types of housing available in their community. We need to figure out how to diversify housing options so people have a real choice.
I think you're overestimating the desire older people to downsize. You're looking at housing as a commodity. To other people it's a home, and generational wealth. It's often the only generational wealth. I'm sure there are some folks like you describe. Most people I know aren't.
Maybe so. I still do think that a lot of people are opposed to downsizing because they worry it might require leaving their community and social connections behind. If options for downsizing were available without leaving the community, more people might be open to it.
Moving doesn’t mean getting rid of generational wealth either. If someone buys a smaller house, they still have real estate equity. And the rest of the cash from selling the old house can be invested.
I think one of the bigger issues is property management companies buying private homes as rentals. Not only are they not available for purchase, but the rents are astronomical and drive the market up. I think the fix lies elsewhere.
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