In cities and countless small towns, large senior-citizen housing complexes have been built. For a comparative pittance, senior citizens, some as young as 55, can move into a low-rent apartment with minimal utility payments. These imposing edifices are particularly obvious in small towns. There, hundred-unit masonry buildings are often the biggest structures to be seen.
There simply aren’t enough young people to buy all the houses of all the senior citizens forced to move into the government’s senior citizen barracks. So, there is a glut of empty homes. The resulting vacant houses are being burned, demolished, or standing vacant to be plundered of copper by young drug addicts. Inevitably, they are pulling down the values of adjoining properties.
When those properties come off the tax rolls, all the other property taxes go up. Those in the Public Education bubble see more resistance to their salary increases at the same time that there are fewer children. Schools are closing. In rare instances, tiny bubbles within the bigger bubble are bursting. Schools are closing.
Few educators are bright enough to understand that the cunning bureaucrats in the Senior Citizen Housing Bubble are shrinking the vastly bigger Public Education bubble.
