A new report has been released by the Center for Housing Policy about whether or not North America is prepared to house an increasingly older population.
In the US, the 65-and-older population will have doubled by 2050 to nearly 90 million. That’s a higher growth rate than any other age group.
And with an older population, comes unique and new demands for housing. The report covers trends affecting older adults, the challenge of providing meaningful and safe housing for older adults from all incomes, and the policies that can help ensure affordable housing and adequate services.
Experts say the key to dealing with the potential housing crisis is about spreading awareness and working on existing frameworks to ensure proper support will be there when it’s needed.
Here some of the highlights from the report:
- As the U.S. population ages, the share of the population with severe housing cost burdens will likely rise.
- As the overall population ages, the numbers of the most vulnerable will grow as well — people with a disability, women living alone (who account for 40 percent of 65+ women) and minorities.
- Even some older homeowners without mortgages face serious housing challenges. While 65+ homeowners are more likely than younger households to have paid off their mortgages, many of these homeowners nevertheless have high housing cost burdens.
- An older population with health issues will drive demand for modified housing and housing with supportive services. Both men and women are living longer, and as a result, more older adults will be living with disabilities.
- Existing and emerging policies can help older adults continue to live in their own homes as they age.
- Equally important are policies to expand housing choices for older adults.
Want to know more? You can find the whole report over here.