This is why my entire retirement is in Social Security, real estate and Precious metals that I personally hold.
The reason is simple: If Social Security fails, everything fails, which means my precious metals and real estate are about all I have of value. But if it doesn’t. I can easily live comfortably on Social Security and my Precious metals and real estate holdings.
In fact, I can almost live off the money I’d make from selling my standing trees in small groups to local sawmills.
Houston will be fine because they elected a mayor to talk about global warming and immigration.
That always takes care of a citys problems.
I would have said a year ago the states will simply go bankrupt in some form or fashion. Now I am beginning to think that there will be some form of real estate levy as a percentage of sales. Fleeing to Florida or Texas? You’ll leave 10% of your home equity back in Illinois (Connecticut, New York, California, etc.). This will fund the promised pensions and of course screw over the propertied tax.