Harvard Study Warns of Impending Housing Crisis for America’s Aging Population

November 15, 2018 by Tracey Velt
With more than half of U.S. households now being headed by someone aged 50 or over, the nation’s short supply of appropriate housing for the elderly will soon take on more urgency, say the authors of a new study from the Harvard Joint Center for Housing Studies.
The report, Housing America’s Older Adults 2018, details how the living arrangements, financial resources, health, and functional abilities of those households will soon present serious challenges.
Baby boomers, who will begin turning 80 in 2026, will increasingly need more accessible and supportive housing than currently available, while many households in their 50s and early 60s may not be financially prepared for retirement.
“We need to address gaps in the affordability and accessibility of our housing stock, both of which are essential to older adults’ independence and well-being,” said Jennifer Molinsky, the lead author of the report. “As the number of households in their 80s grows, it will be essential that we strengthen the links between housing, healthcare, and other services.”
The report’s analyses of demographic, financial, and geographic data highlight several other notable trends, including:
Given these trends, supportive and accessible housing will be in even greater demand for aging households in the years to come. Meanwhile, the combination of more lower-income older households and limited federal subsidies suggests that gaps in affordable housing will continue to widen, resulting in more older adults forced to cut back on necessities in order to pay for housing. Responding to these challenges will require a coordinated response from the nation’s public, private, and nonprofit actors, say the study authors.
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