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New Report: U.S. is Unprepared to Meet the Housing Needs of Its Rapidly Growing Older Population

A new study by the Harvard Joint Center for Housing Studies and AARP Foundation, entitled “Housing America’s Older Adults —Meeting the Needs of An Aging Population,” states the United States is unprepared to meet the housing needs of its rapidly growing older population

According to the report, “The number of adults in the U.S. aged 50 and over is expected to grow to 132 million by 2030, an increase of more than 70 percent since 2000. But housing that is affordable, physically accessible, well-located and coordinated with supports and services is in too short supply.”

Noting that housing is especially critical to quality of life for older adults, the study states that high housing costs currently force a third of adults 50 and over - even more for those age 80-plus - to pay one-third or more of their limited incomes “for homes that may or may not fit their needs, forcing them to cut back on food, health care, and, for those 50-64, retirement savings.”

The report emphasizes that much of the nation’s housing inventory lacks basic accessibility features, preventing older adults with disabilities from living safely and comfortably in their homes. In addition, the disconnect between housing programs and the health care system puts many older adults with disabilities or long term care needs at risk of premature institutionalization.

The study stresses, “Of special concern as the older population in the U.S. continues to swell are the younger baby boomers who are now in their 50s. With lower incomes, wealth, homeownership rates, and more debt than generations before them, members of this large age group may be unable to cover the costs of appropriate housing or long term care.”

 To view the report, click here.

 Contact: Ken Harris, kharris@leadingageny.org, 518-867-8835