That is exactly what happens. These people are in their homes because they simply wanted a place to live, not because they were searching to make a profit. Speculators in the property sector have driven home prices up to the point that the average person can't afford to buy and those who just wanted a place to call home are forced out because of the rising values.
Yeah and think about it. Those people haven't worked for
20-30 years. You have to maintain enough of a nest egg so that you can keep paying those property taxes. Using the internet and capital gains. The taxes are probably as much as the mortgage monthly payments you started with.
Salaries were lower when these people were working. So you had to save a significant percentage just to maintain your presence
Exactly. As a retired person myself, there are worries over the constant increases in living expenses that continue to put a bite into limited income streams that do not keep pace. You work for decades to prepare for your life post employment only to be faced with challenges to maintain a roof over your head. Slowly but surely "they" are forcing everyone to become renters and stripped of assets - a serf class. Our founding fathers are rolling in their graves.
That is exactly what happens. These people are in their homes because they simply wanted a place to live, not because they were searching to make a profit. Speculators in the property sector have driven home prices up to the point that the average person can't afford to buy and those who just wanted a place to call home are forced out because of the rising values.
Yeah and think about it. Those people haven't worked for 20-30 years. You have to maintain enough of a nest egg so that you can keep paying those property taxes. Using the internet and capital gains. The taxes are probably as much as the mortgage monthly payments you started with.
Salaries were lower when these people were working. So you had to save a significant percentage just to maintain your presence
Exactly. As a retired person myself, there are worries over the constant increases in living expenses that continue to put a bite into limited income streams that do not keep pace. You work for decades to prepare for your life post employment only to be faced with challenges to maintain a roof over your head. Slowly but surely "they" are forcing everyone to become renters and stripped of assets - a serf class. Our founding fathers are rolling in their graves.
And younger people today (myself included) aren't saving enough either. They are fools to think they won't run into these same problems in the future