New reports show a growing housing crisis as millions of baby boomers enter retirement without adequate support

Michael Genaldi’s journey into homelessness began early this year after a car crashed into his motorcycle, leaving him with three broken ribs and a month-long coma. At 58, he lost his job as a machine operator, then his home. When things couldn’t seem to get worse, he was diagnosed with stage 2 lung cancer while living in his truck.

Too young for Social Security, Genaldi now stays at a shelter for people aged 55 and older in Phoenix as he navigates the difficult process of qualifying for disability payments.

This story isn’t unique. The United States, as its population ages, is woefully unprepared to house and care for the growing number of older adults. A report released Thursday by Harvard University’s Joint Center for Housing Studies highlights this alarming issue.

Without enough support, many older adults will face difficult choices. Jennifer Molinsky, project director of the center’s Housing an Aging Society Program, warned: “Many older adults will have to forgo needed care or rely on family and friends for assistance.” Tragically, some, like Genaldi, may find themselves homeless.

Molinsky stressed that more governmental aid is essential to address the challenges faced by aging Americans, particularly baby boomers born after World War II.

Housing assistance falls short

Federal programs like Section 8 or Section 202 are designed to help older adults with supportive services such as cooking, cleaning, and transportation. However, the report reveals a glaring gap: in 2021, only a third of the 5.9 million eligible renters aged 62 and over received assistance. That means nearly 3.7 million older adults were left behind.

New reports show a growing housing crisis as millions of baby boomers enter retirement without adequate support
Angelita Saldaña shows off her pet Chihuahua Gaspar at a homeless shelter for older people in Phoenix.

The report calls for creative housing solutions for those on fixed or shrinking incomes. Options include shared housing to reduce costs, accessory dwelling units (ADUs) like granny flats or casitas, and cohousing communities with communal spaces for shared living.

The numbers paint a grim picture. Over the next decade, the population aged 75 and older is expected to grow by 45%, reaching nearly 25 million by 2035. Many of these individuals will face financial struggles. In 2021 alone, 11.2 million older adults were “cost burdened,” spending more than 30% of their income on housing.

Some areas, especially in the Sunbelt region, have the highest rates of housing cost burdens for seniors. Cities like Las Vegas, Miami, San Diego, and Daytona Beach are particularly challenging for retirees.

Challenges for homeowners

Older homeowners aren’t immune to financial struggles. Median mortgage debt among those aged 65 to 79 has risen sharply, jumping over 400% from $21,000 in 1989 to $110,000 in 2022. Many older adults are forced to tap into home equity just to cover basic needs.

Additionally, long-term care is another significant burden, costing over $100 a day on average. Older people of color, especially Black and Latino households, face even higher rates of financial strain compared to white households. Seniors living alone are also more likely to struggle, with 47% of solo seniors being cost-burdened compared to 21% of couples.

Aging in shelters

For some, like Angelita Saldaña, homelessness becomes a harsh reality. Saldaña, 56, became homeless after her marriage ended. A granddaughter of Mexican immigrants, she initially lived in her truck with her dog, Gaspar. Now, she resides in the same Phoenix shelter as Genaldi.

Saldaña’s $941 monthly disability check isn’t enough to cover the $1,200 average rent for a studio apartment in the area. A caseworker is helping her search for affordable housing. In the meantime, she has the comfort of a private motel room with a bathroom. “Here, I can sleep good,” she said, reflecting on her time at the state’s largest downtown shelter, which houses ten times as many people.

Lisa Glow, CEO of Central Arizona Shelter Services, explained that older adults fare better in shelters tailored to their needs, with features like wider doorways, fewer stairs, and more privacy. She shared a heartbreaking story about an 82-year-old man with dementia who struggled in the downtown shelter before being moved to a skilled nursing facility. “The downtown shelter is not a good place for an aging adult with chronic conditions,” she said.

Glow expressed her dismay at the growing number of seniors living on the streets. “I’ve been shocked to see so many seniors on the street,” she said. “People with wheelchairs. People with walkers.”

The report makes it clear: as the population ages, solutions are urgently needed to prevent more stories like those of Genaldi and Saldaña.

Report - https://www.jchs.harvard.edu/housing-americas-older-adults-2023
Image Credits - Unsplash

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