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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] land prices!
  • Date: Mon, 07 Nov 2005 14:11:45 -0500

At 11/7/2005, you wrote:

You say that there are soon to retire ex-hippies and yuppies there and that
they are wealthy enough to keep pushing land and housing prices up. Not on SS,
says you, but on privately funded savings, investmets,. pensions,. and
retirement plans. Where's that money invested, the stock market? Not so much of
it. The lion's share now of days is in Mortgage Based Securities (MBS).

Forget the pensions. Companies are shedding pension plans as fast as they can. They are also cutting health care for retires even faster. Many of those boomers (who start retiring in 2007, not 2010) will be faced with no health care and will have to put off retirement. Many others will see the promised benefits evaporate in a merger or a business decision based bankruptcy. Most have only a modest 401(k) as the average holdings are around $17,000. For many the biggest asset is the house and for many of those it is mortgaged to the hilt. So for many the sooner the baby boomers parents die off the sooner they can retire.

That is if they are still employed. Recent trends in many industries it to shuck the older worker and move the work off shore. Health care for older workers is getting to be an expensive drain on CEO paychecks so the cure is to move work to socialized medicine countries or hire younger workers with fewer problems.

Don Bowen Awl Knotted Up

My travel journal
http://www.braingarage.com/Dons/Travels/journal/Journal.html

My present location is the star on the map in the link below
http://www.mapquest.com/maps/map.adp?latlongtype=decimal&latitude=35.588269&longitude=-82.629132





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