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by BobertK 5171 days ago
Not to mention: Most older Americans are broke. An apt in the city (think re-populated smaller, older cities, and large towns) is cheaper to heat and cool, convenient; so then a car and it's attendant expense is unnecessary.

If I am old and divorced i'd rather have neighbors across the hall than a house to maintain, even if I can afford it.
1 comments
orangecat 5171 days ago
Most older Americans are broke.

Source? By the last numbers I've seen, net wealth increases directly with age.

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BobertK 5170 days ago
This is before the housing crisis -it is much worse now

What you see above and below is where the US stood in 2007. Again because this data is as close to 100% accurate as you can get.

Avg Net Worth Bottom 25%: $4,600 Avg Net Worth Next 25 – 50%: $21,700 Avg Net Worth Next 50 – 75%: $78,900 Avg Net Worth Next 75 – 90%: $242,800 Avg Net Worth Top 10%: $1,606,600

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