While it is not yet clear how the new administration will affect the construction and the cost of affordable housing, the nation’s 75 million Baby Boomers are weighing in with housing concerns.
According to a new survey of 1,000 Americans aged 55+ from the NHP Foundation, a not-for-profit provider of service-enriched affordable housing, 30 percent of these older Americans experience anxiety about being able to afford their home at least once a month, with 42 percent of retirees reporting such anxiety at least once daily.
- When asked what causes the greatest anxiety, 46 percent of respondents said they worry about “the ability to afford desirable retirement living.”
- Nearly 65 percent of Baby Boomers worry at least once a month about their adult children’s ability to afford desirable housing.
- More than 10 percent of Boomer parents worry about this at least once a day, with most (64%) concerned about their adult children’s ability to afford rent or a mortgage. Forty-three percent are most concerned about the next generations’s retirement savings.
- “The anxiety is now multi generational”, according to NHP Foundation CEO Richard Burns. “So we are working today to increase our stock of affordable housing to ensure that his and future generations are able to afford desirable places to live.”