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Politics : Politics for Pros- moderated
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To: John Carragher who wrote (120822)6/19/2005 1:36:46 PM
From: KLP  Read Replies (1) of 793800
 
I don't know John....I wonder just how many of the elderly who receive Medicaid payments for nursing home care had much, if any, assets in the first place? Remember, this generation is the Depression and WWII era generation, who sacrificed then, and later for their children's education. My guess is the majority of them don't have many funds at all. Maybe their children do, but my guess is that 95% of these elderly folks have next to nothing.

Many of them lived in an era when they struggled to buy a house in the 1950's for $5,000, and even in the early 1960's, a nice 35 year old house in Seattle could be purchased for $17,500, with a view. I know several of the folks who did this...but they sold their houses, years before the land boom...They had to downsize as their incomes wouldn't allow the upkeep on the 35 year old house that became a 50-60 year old house by the time they sold.
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