[Hondaracer]

i wrote a nice post about cash VS RRSP etc. but then my computer froze as i was getting to the last paragraph..

To sum it up, In the news lately there has been quite a bit of coverage regarding seniors coming into the lower mainland from other parts of BC/Western Canada to basically live out their remaining years where there is available care and facilities.

The drain on the health care system as a result of people taking up hospital beds and care home spots is immense.

I think an underlying resistance to actually puting down new rules which would legitimately effect home values is that there is probably a huge chunk of the of the population that is relying almost entirely on the "cash" that they are living in right now. People who had little to no retirement savings or plan, all of a sudden (in the last 10 years) have a million dollars in their back pocket.

If those same people saw a drop of even 100k, that could be the difference between living in a "home" or living in a bunk house towards the end of your life. While those types who did little to no savings for retirement probably arent the brightest nor the healthiest group out there, there is a definite correlation between your wealth and your health.

There is a massive need to keep people in their homes at all costs because we simply do not have the infrastructure to provide beds for people at almost any level of assisted living.

Add to that the people who would be holding mortgages worth more than their homes, and you've got a stalemate as to enacting any sort of rules with teeth that would seriously put a stop to the craziness.

Tough spot to be in.