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The Association Between High Mortgage Debt and Financial Well-Being in Old Age: Implications for the Financial Education Field

Authors: Alexander Hermann, Christopher Herbert, Jennifer Molinsky | February 10, 2020

Over the last few decades the share of older homeowners (age 62 and older) with mortgage debt has doubled, while the typical amount of outstanding debt relative to home values among this group has tripled. Older homeowners still paying off mortgage debt face high rates of housing cost burdens (paying more than 30 percent of income for housing), leaving less income for other necessities. In addition, homeowners with higher mortgage debt have less housing equity to tap for critical needs and face the ongoing risk of foreclosure. ...

Accessibility Features for Older Households in Subsidized Housing

Authors: Whitney Airgood-Obrycki, Jennifer Molinsky | January 14, 2020

In the last ten years alone, the share of older adults in HUD-subsidized housing has risen five percentage points, and older adult households now make up over a third of all subsidized renters. In this paper, we examine whether the subsidized housing stock is suitable for aging in place. We ask: What physical challenges do older subsidized renters face? What difficulties do they experience with their housing environment? And, are subsidized units more equipped with accessibility features than units without rent assistance? ...

Housing America's Older Adults 2019

Author: Joint Center for Housing Studies | October 16, 2019

Housing inequality is becoming increasingly evident among older Americans as the number of older households climbs to unprecedented levels. Between 2012 and 2017, the number of households headed by someone 65 or older jumped from 27 million to 31 million and will continue to grow. At the same time, the number of older adults facing housing cost burdens reached an all-time high of 10 million, income disparities are widening, and white-minority gaps in homeownership have expanded......

Housing Americas Older Adults 2018

Author: Joint Center for Housing Studies | November 14, 2018

More than half of the nation's households are now headed by someone at least 50 years of age. These 65 million older households are highly diverse and require different types of housing to meet their needs and preferences. Affordable, accessible housing located in age-friendly communities and linked to health supports is particularly in short supply....

Projections and Implications for Housing a Growing Population: Older Households 2015-2035

Projections and Implications for Housing a Growing Population: Older Households 2015-2035

Author: Joint Center for Housing Studies | December 13, 2016

By 2035, more than one in five people in the US will be aged 65 and older and one in three households will be headed by someone in that age group....

Aging in Place: Implications for Remodeling

Aging in Place: Implications for Remodeling

Author: Abbe Will | July 02, 2015

W15-4: The dramatic aging of the U.S. population in coming decades is expected to have important implications for the home remodeling industry....