Age In Place a Challenge for Boomers

A recent report published by (NHC) National Housing Conference indicates that the next big challenge facing Baby Boomers could be their inability to “Age in Place.” In turn, this will cause major challenges for the healthcare industry as well as the housing market.

nhc-logoThe NHC report states:

“A growing population of Baby Boomers poses significant challenges to both the nation’s housing market and healthcare industry, however, a recent study suggests home- and community-based services can help quell any crises related to aging in place.

Population shifts among older adults is creating a “growing urgency” within the healthcare and housing fields, says a report from the National Housing Conference (NHC) titled Aging in Every Place: Supportive Service Programs for High and Low Density Communities.”

As the Baby Boomers age, there will be more senior adults living than ever before in U.S. history. By 2050, the number of adults age 65 and older is expected to double to over 88 million, according to data from the Center for Housing Policy cited in the report.

Consequently there is great urgency surrounding the need to effectively deliver healthcare and living assistance to this huge population of older Americans.

“Over 65 percent of older adults have multiple chronic
illnesses, which often limit their ability to complete basic
daily tasks like eating or bathing.”

The entire report can be seen here.

A Reverse Mortgage – One Solution to Consider

A reverse mortgage is one way for Boomers to extend the life of their assets as well as live longer in their own homes. If you are an aging Baby Boomer and have significant equity in your home, you may wish to find out more about how to access your equity through a reverse mortgage, without obligating yourself to repay the loan as long as you live in your home.

To support the desire to age in place, an AARP survey also concluded, nearly 90 percent of adults aged 45 and older indicated they wanted to stay in their homes “for as long as possible” as they aged.

Free Reverse Mortgage Quote