Senior Housing Becoming Limited as Americans Age

Americans are aging. According to a recent article by Sharon O'Malley, "By 2030, 73 million Americans will be at least 65 years old. By 2040, 28 million will be 80 or older." The problem is whether or not there will be enough housing available to house them.
At the end of the day, people are living longer. According to a recent study, people who turn 65 this year, can expect to be around at least another 20 years - perhaps longer! With this in mind, we can conclude that the United States is simply unprepared to deal with the growing elderly population.
In addition to people getting older, many retirees are also outliving their incomes. Many are on fixed incomes, and as a result are looking for housing they can afford, which simply isn't always available. The Joint Center for Housing Studies estimates "...Americans age 50 and older spend 30% to 50% of their income on housing," (O'Malley 2014).
In conclusion, Harvard University recently conducted a study, Housing America's Older Adults: Meeting the Needs of an Aging Population, and identified three primary areas of concern...
  1. Cost of housing is high
  2. Suburban and rural areas aren't great places to "age in place"
  3. Older homes aren't accommodating older people 

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