[ivanstojic]

We should recognize that there are universal needs for geezers and kids: we want some form of personal security. For a lot, that means home ownership.

Let’s look at data: If the geezer is 60 and paid off their loan today, they got it 30 years ago (in 1992). The median price of single family freestanding homes in LA county in 1992 was 221k. Today it’s 860k. In 1992 the median household income was 32k and in 2020 (last available data point) it’s 76k.

I understand that “the geezers” have something to teach us with a perspective of a lifetime and the needs all humans share.

At the same time, we have to acknowledge and account for the economics having totally changed.