More than 60 percent of Americans in the middle class said they are “struggling financially” and do not expect things to turn around for the rest of their lives, according to a poll released Tuesda…
Towards the end, Medicare/medicaid/whatever takes the house too if you don’t plan ahead, and no doubt they’ll close the “loopholes” for planning ahead too.
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People focus on income, income ain’t the whole picture, it’s wealth that’s important.
It used to be owning a home built wealth passively, as you lived and paid your mortgage, you gained equity.
If people cant afford to buy a home, it’s almost impossible to build wealth. You just flush more money away on rent as you earn more money.
It’s what happens when they charge as much as people can pay for something we all need.
Towards the end, Medicare/medicaid/whatever takes the house too if you don’t plan ahead, and no doubt they’ll close the “loopholes” for planning ahead too.
Look up filial laws that states are passing. There will be no great transfer of wealth except from boomers to corporations.