Our income is mid six figures, so the additional costs of maintaining the house are easily manageable, but that’s not true of all our neighbors.
I’ll be happy to leave an appreciated asset to the kids, but appreciated house prices don’t have any positive impact on our daily circumstances. That is true also for the millions of homeowning retirees who are on reduced incomes but whose living costs have steadily risen, often dramatically so. Many of them will be financially incapable of keeping their homes.
Mid 6 figures is good income in Florida. $400,000 - $600,000 a year is the new Middle Class...