SURVIVAL IS NOT ENOUGH   

The Alliance for Senior Housing Initiatives (ASHI) is a grassroots movement to influence the Federal government to develop a plan as well as financial and other strategies to improve housing options for the elderly.

The following is an edited statement from an article in Bloomberg, by Sarah Holder, published on December 7, 2023. 

By 2034,the Census Bureau projects that the US will be home to more people over 65 than people under 18. Finding safe and affordable housing for this fast-growing segment of the population is becoming an urgent task, according to a new report from Harvard University’s Joint Center for Housing Studies 

The number of 65-and-over residents who are considered cost-burdened reached record highs in 2021, while federal housing subsidies only reached 36.5% of older households who were eligible. Though the majority of older adults are homeowners, many are still paying off mortgages into old age, and there’s a growing share of renters in their 50s and early 60s. Long-term care expenses, both in-home and at facilities, are out of reach in many cities. Homelessness among older adults rose during the pandemic. And much of the US housing stock is itself aging, in need of upgrades and features for people to age in place safely.

The number of renters — who are, overall, more likely to be cost-burdened than homeowners in most of the country — is also growing in this age group. In 2022, 79% of households headed by older adults owned their houses, down only slightly from previous years. But there are wide racial disparities — Black and Hispanic seniors are more likely to rent — and homeownership rates have been slumping among those entering the retirement years: In 2022, 74.2% of people aged 50 to 64 owned their homes, compared to around 80% in 2004. ...The median older renter has only 2% of the wealth of the median older homeowner. 

Government assistance tailored to low-income residents can help offset costs, but researchers found that nearly 30% in the 75-and-over group they studied make too much to qualify for many forms of federal aid while still not enough to feasibly pay for long-term care.  

A growing range of senior-focused living models has cropped up to serve these varied needs. Aging-in-place “village” networks can help older adults stay in their homes by connecting them with supportive services within their neighborhoods. Age-restricted affordable rentals or intergenerational home-sharing programs can also combat cost burdens and social isolation at once. Newmodels of multigenerational housing are emerging in urban areas. 

We urge the Federal Government to devise a plan and recommend funding to provide subsidies that enable remodeling of old outdated facilities and the constructions of new models of senior housing that meet the needs of older adults for safety, comfort, and personal connections. Survival is not enough.