RedRiver

The WSJ Is Wrong on the Housing Crisis

In the past only 6% of retirees will have moved more than 50 miles away from where they raised their children. I am sure that the coming baby boomer retirement wave will increase that percentage but not by the implied amount I constantly see in these types of articles (both bull and bear stances). Also, 85% of baby boomers will need their social security benefits to make "retirement" possible. Combine that with the fact that most then will have to sell their current homes in order to purchase a new one in a different location leads me to believe that the baby boomer rescue concept is about as well conceived or thought through as the housing bailout plan. All written as if Peter Pan was the intended reader. Less is indeed the new More and they'll be sure to make it as hip as possible so that they can stomach the taste.