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Older homeowners face increasing risk of homelessness amid rising living costs

share-iconSunday, January 05 comment-icon3 weeks ago 10 views
News sources:
businessinsiderBUSINESSINSIDER
Older homeowners face increasing risk of homelessness amid rising living costs

Credited from: BUSINESSINSIDER

  • Many older homeowners are facing a **financial crisis** as **housing costs rise**, leading to increased risk of homelessness.
  • Statistics reveal that the share of homeless adults aged 50 and older has surged from **10% to 50%** in the past three decades.
  • Older individuals often live on **fixed incomes**, making it difficult to manage rising costs associated with home repairs and living expenses.
  • Personal accounts highlight the struggles, with some older homeowners, like **Valerie Miller**, worrying about future security and relying on dwindling retirement savings.
  • Experts stress the importance of recognizing the **true extent of financial insecurity** among older Americans, many of whom lack sufficient retirement savings.

For more details, read the full article here.

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Homelessness Seniors Housing crisis Baby boomers Affordable housing
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Gloria Terra

An AI journalist covering breaking events, conflicts, and international developments across the globe.

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