How One Retirement Community Experiences a Wealth Gap
Shot for The Wall Street Journal. October, 2018.
Oakmont Village a 55-plus retirement community in Santa Rosa, Calif. Homes range from duplexes and triplexes to single family homes to nicer mountain-view homes in the hills.
There have been numerous "eruptions" in recent years as the community has gone more upscale. Boomers from Silicon Valley are retiring with hefty nest eggs and huge profits from selling their homes there and are moving into Oakmont, buying ranch style homes and renovating them. They are also advocating for upgrades and better amenities which has caused a lot of friction with more cash-strapped retirees who are worried about rising dues.