Today Bessent suggested that normal retirees own 5, 10, 12 homes.
This is bonkers.
There seem to be a lot of retirees on this board…anonymous poll time!
How many homes do you own? (Feel free to round to the closest number)
- 1
- 5
- 10
- 12
0
voters
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It is not unreasonable for anyone with rentals, a classmate here, well, now his widow, has 5 rentals going, in-law had a dozen locally, plus 200+ in Houston before he liquidated last year, likely many more out there… I never, ever wanted the extra load of being a landlord, work, family was enough…
2 Likes
Being reasonable and being common are two very different things. I have a few buddies with multiple rental properties. I’d stop short of suggesting it is the norm.
3 Likes
Not only do I only own one house, I’ve only purchased one house in my entire life. This one!
1 Like
I have a friend with over 6000 units in his management till last year. He is moving towards retirement.
Totally normal. Just not common.
He owns small percentages of about half of those units. He is in with a lot of landlords.
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Probably not a “mom and pop” situation.
Doubling down on a reality check, here’s the Ag Secretary equally out of touch -
“Rollins said a day’s worth of meals under the new guidelines — three full square meals and a snack — currently costs about $15.64, citing a U.S. Department of Agriculture economist.”
https://thehill.com/homenews/5696881-rollins-clarifies-affordable-meals/
3 Likes
Someone should remind Bessent that he should use “median” and not “normal” which has no statistical basis.
From Google:
The median homeownership rate for seniors (65+) in the U.S. is very high, around 79-80%, with most owning their homes outright or with a paid-off mortgage, but this masks significant cost burdens for some, with over 25% paying 30% or more of income on housing, and millions facing severe financial strain, especially renters or those with mortgages.
The median number of homes senior homeowners own in the U.S. is generally considered to be one, as most older Americans own their primary residence, with high rates of mortgage-free ownership, though some hold second homes or investment properties, but data focuses more on homeownership rates and equity than total property counts.
Wendy
5 Likes