North America’s aging population is causing changes for everyone from Baby Boomers to teenagers, and on issues such as pensions, healthcare, the environment, and national debt.
But one challenge facing seniors is a growing shortage of affordable housing options, as recently reported in the Boston Business Journal.
The news source cited a recent study by the Center for Housing Policy, which found that there are two major factors contributing to the housing challenge: a shortage of assisted living senior living communities, as well as the lack of retirement savings among many seniors, who then find themselves unable to afford living in an assisted living or Alzheimer’s Care community.
One of the consequences of this shortage of senior housing options has been for many seniors to continue living at home or with relatives when they need to have more specialized care.
Some of the most vulnerable groups include women and those with severe disabilities, as well as minorities and people who live alone. To make matters worse, the recent recession has taken the retirement savings of many Baby Boomers who were looking to soon retire.
One recommendation from the report was for cities and towns to create more senior housing options and mixed-zone areas where seniors of varied needs and financial abilities can live together, close to shared amenities.