The Next Housing Crisis: Aging Americans’ Homes

The US is facing a lack of affordable, physically-accessible and well-located homes for America’s aging population — especially those with low incomes. “You’ve got a scenario with the largest generation we’ve ever had moving into their senior years combined with the fact that longevity is increasing,” says Jonathan Smoke, Chief Economist at Realtor.com, the site of the National Association of Realtors. “And we’re fairly ill prepared to address the housing needs and challenges of them.” This article examines the three major areas that need to be addressed: 1. The cost of renting and homeownership is already too high. 2. Americans want to age in place, but they’re living in the wrong places. 3. Homes aren’t suited to the physical challenges many older people face.