Which is why people like us have to educate those grandparents, aunts, uncles, friends, etc., that investing is a long-term strategy. The markets have weathered ups and downs in the past, but in the long run, the trend has been up.
There are also people who are out of luck even with SS - they have evil relations who take their money. There is NO safety except that from above, and I’m not even much of a believer. I know people who have SS, yet still manage to waste it or have it stolen.
"Wouldn't it be WONDERFUL if people who can't really afford homes could get them?"
Well, the kindness paid off...the wolves repocessed the homes the sheep bought with public-school level math skills.
This has all happened before; some scheme in the markets fails and everything else shudders. Problem is that all the markets are so interrelated that when we cough, Japan gets the cold, Europe gets the flu...and coughs on us.