why do a lot of seniors have a bunch of money but get the lowest prices in housing??

Question

i know ther's always an exception and everybody isnt rich...but a lot of seniors are, and they get the lowest housing costs....give those prices to college students..lol

Answer 1

You are creating straw men here - the vast, vast majority of seniors who live in public housing subsist on social security alone, which often is barely enough to pay small rent and buy food, much less medicine, transport, etc. As for people in housing projects driving the nicest cars? I suggest that you visit a project and test your thesis. If you look into the "welfare recipients are really rich" myth, you'll soon debunk it - a la Reagan's "welfare queen" prevarication.

Answer 2

I would not think they would qualify for lower housing costs but I guess once you are over the age of 60 most people feel they have earned the right to pay less. I don't necessarily believe that myself. I am 56 and pay all the high prices-doubt if I will reach the point of lower rent-will probably be non existent by then. LOL. I think college students especially those supporting themselves should definitely get some kind of rental break as well-since they are working so hard to better themselves.

Answer 3

It's all about the credit rate a person has and the higher their score and the longer the length of time they've had a high score the better risk they are so they get a lower interest rate.

seniors that do have a bunch of money saved up also have an excellent credit history over many years therefore they can get a lower interest rate when buying a house.

However, a college student may not even have a credit rating or if they do it may not be very good or even if it is good the time period it covers is very brief so they are not a good investment for a seller.

Answer 4

Seniors that have a bunch of money, don't live in low cost housing. The ones that live there are living on fixed incomes. They can no longer work to improve the state of life. They are living off pensions and savings or social security, You are young and are just starting out in life. Is there some reason you can't get a part time job? Plenty of seniors worked 2 jobs to raise their children and paid to educate them. I hope through your answers, you realize how UNfunny your question is.

Answer 5

Many Seniors are on fixed income.
If they live Senior Housing the rent is based on their earning #Social Security.
Medicine has become so costly. Whatever has been spent for Physician, Medicine and Transportation to and from the Physician is deducted from the cost of rent.

College students will be 65 one day.....

Answer 6

WE are old, barely able to walk, dribble down our chins, talk of nothing but operations and grandkids, aches and pains, and in general, are miserable to be around...so they give us cheap housing to keep us away from college kids. Also, there is the side that we DO have lots and lots of money..we have it and we are keeping it! IT must be good for something, I just can't remember what it is for. So here it sits in a huge pile in the middle of my living room, crumpled and green..it really is ugly, I have no idea what to do with it...perhaps tomorrow, I will throw it all away..but not on college kids :-)

Answer 7

I'm a senior. I pay regular rates for housing. Could it be that I have a better credit score than a college student? That I don't max out credit cards? That I saved money?
Don't begrudge poorer people their benefits.

Answer 8

That is not true in South Florida. Only rich seniors get the best housing.

Answer 9

Do you have any clue how much $ it takes to retire? That isn't including medical problems or health problems including medicine & insurance. The estimated cost to retire at age 65 is over 700,000.00
You dont make anything on social security. When you get to be retirement age I hope you remember this question of yours and you will feel pretty darn stupid you ever asked it.

Answer 10

Someday you will be old enough to understand that having money is the best way to either make or save money. Besides, we were ripped off in our younger years also and now we deserve a little respect...and lower interest rates!