The Center for Housing Policy has published a new report that explores the effects of the growing number of Americans over the age of 65 and the impact of this demographic change on the housing market. The report forecasts potential problems that will affect this growing population, including affordable housing options and the cost burdens that may create financial problems for the next generation of elderly homeowners.
The report – titled ‘Housing an Aging Population – Are We Prepared?’ – states that one in five Americans will be over the age of 65 by the year 2050, to nearly 90 million, growing faster than any other age group.
‘As the older population grows, meeting the housing needs of older adults is certain to become a significant challenge across the nation,’ says Rodney Harrell, a policy advisor at AARP's Public Policy Institute. ‘States and communities need to effectively respond by adopting policies that ensure adequate, affordable housing for people of all ages.’
The full report is available online.