Nobody is entitled to live in the same space forever. It’s perfectly reasonable and expected for for someone on a fixed income to sell their appreciated home rather than paying the higher upkeep. If the value proposition makes sense for someone with a higher income then they’ll fill the void. If not, the price will drop and it will all adjust anyway.
The alternative is to end up like CA and we all know the shit show that has become.
Exactly. Around here say you get old and need a nursing home they(public health) will asses all you own. If you have a house they will say gosh we are very sorry. It looks like you own a house, a boat, a property or what ever and this guy over here has nothing. You can afford private care so look into that. The public spaces goes to those who most need it and if you have assets then you don’t need it you can pay elsewhere. They say but that isn’t fair I saved my whole life and was going to give my assets to my children. Who cares not public health. I’ve seen this countless times working in a care home. They are told to sell their house and pay for their own bills while the broke person is subsidized. The secret is to give your children your assets before you need to ask for help or expect to be told to look for private care. Private care is about $6000-$10000 per month. Once you spend all your money you now qualify for subsidized care.
> The secret is to give your children your assets before you need to ask for help or expect to be told to look for private care. Private care is about $6000-$10000 per month. Once you spend all your money you now qualify for subsidized care.
The Medicaid look back period for assets is five years.
The real “trick” is to have kids, raise them right, and then get old knowing that they’ll do what’s right. Whether that’s taking you in, putting you in a home, or kicking you to the curb is all a matter of what you teach them.
It doesn’t matter how well you raise your children if your health declines they with there best intentions won’t be able to help you. I see it all the time. When all of a sudden the person needs 24/7 care to use a lift to take a poo or can’t physically get out of bed into their wheel chair or a hundred other issues the family can no longer cope. You say do what is right, for me that would be riding myself off assets to my children so they can have a life just a little easier then me. I’ve raised my kids right I know I could at 50 years old put all my assets in their name and it would be fine. Not everyone can do that. Some may say that is cheating the system but it is still following the law and that is good by me.
Of course it should. Rent control is a glorified government lottery. If you’re born with a winning ticket (ie your parents have it already) or you get one of the extremely few openings, you’re a winner. Everybody else pays.
That's black and white thinking, though. The answer isn't "freeze taxes forever v. kick the grandparents out by making their taxes go up faster than their social security checks."
Nobody is entitled to live in the same space forever. It’s perfectly reasonable and expected for for someone on a fixed income to sell their appreciated home rather than paying the higher upkeep. If the value proposition makes sense for someone with a higher income then they’ll fill the void. If not, the price will drop and it will all adjust anyway.
The alternative is to end up like CA and we all know the shit show that has become.