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Old Yesterday, 05:43 PM
 
29,386 posts, read 26,339,390 times
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This will probably generate hoots of laughter but it's a serious problem.

What happens to the seniors? Do they have any hope of ever living in the city?

Quote:
There will be 14.4 million middle-income seniors by 2029, and 56% of them will not be able to afford private-pay senior housing at today’s market rates, according to the National Investment Center for Seniors Housing & Care.

***

The NIC report defines middle market seniors as those who are 75 and older with annual financial resources of roughly $25K to $95K. They are unlikely to qualify for Medicaid but may not be able to afford private senior housing, either assisted or independent living.

Read more at: No Place For Old Men: Middle-Income Seniors Facing A Shortage Of Housing Options
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Old Yesterday, 05:47 PM
 
10,576 posts, read 7,523,108 times
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Affordable housing affects all types. We need to be serious about opening up the housing supply so affordability stays manageable.

I worry especially about many people in the nicer suburbs getting priced out as they age if zoning keeps them limited to "Single-Family" if you allow people to have a duplex or at least an ADU they can help split the costs of staying in the neighborhood and also provide a place for an additional family to live.
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Old Yesterday, 06:25 PM
 
29,386 posts, read 26,339,390 times
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Originally Posted by jsvh View Post
Affordable housing affects all types. We need to be serious about opening up the housing supply so affordability stays manageable.

I worry especially about many people in the nicer suburbs getting priced out as they age if zoning keeps them limited to "Single-Family" if you allow people to have a duplex or at least an ADU they can help split the costs of staying in the neighborhood and also provide a place for an additional family to live.
I have to agree, jsvh. You could keep the zoning single family but just increase the density like they do up in Buckhead.

Unfortunately, it seems like you just wind up up with twenty million dollar houses on one lot.
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Old Yesterday, 06:32 PM
 
13,595 posts, read 22,044,925 times
Reputation: 4617
Quote:
Originally Posted by arjay57 View Post
This will probably generate hoots of laughter but it's a serious problem.

What happens to the seniors? Do they have any hope of ever living in the city?
Quote:
Originally Posted by jsvh View Post
Affordable housing affects all types. We need to be serious about opening up the housing supply so affordability stays manageable.

I worry especially about many people in the nicer suburbs getting priced out as they age if zoning keeps them limited to "Single-Family" if you allow people to have a duplex or at least an ADU they can help split the costs of staying in the neighborhood and also provide a place for an additional family to live.
Yes, many seniors now want to age in place.
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Old Yesterday, 06:36 PM
bu2
 
10,041 posts, read 6,448,118 times
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Quote:
Originally Posted by arjay57 View Post
This will probably generate hoots of laughter but it's a serious problem.

What happens to the seniors? Do they have any hope of ever living in the city?
They spend all their resources and then they qualify for Medicaid. I think its when you get below 2k in assets.
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Old Yesterday, 06:43 PM
 
Location: Georgia native in McKinney, TX
7,413 posts, read 10,078,074 times
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That's why I fathered 4. Counting on one of them to take in dad.
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Old Yesterday, 06:54 PM
 
29,386 posts, read 26,339,390 times
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Originally Posted by Saintmarks View Post
That's why I fathered 4. Counting on one of them to take in dad.
Well, I too am hopeful but they have their own lives. Which may or may not include the parental units.
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Old Yesterday, 08:32 PM
 
2,381 posts, read 3,746,597 times
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This absolutely a major issue that very few individuals are talking about. I believe that markets adapt and change to fill a need. So solutions will rise to the occasion. If you want to get rich then try to identify those market needs and get in on the ground floor early. I know individuals that have carved out niche business in the last 5 years that cater to seniors and they have more business then they can handle. One solution you will see more of is the Golden Girls model where seniors are sharing living spaces.
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Old Yesterday, 09:15 PM
 
13,595 posts, read 22,044,925 times
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Quote:
Originally Posted by lorilove View Post
This absolutely a major issue that very few individuals are talking about. I believe that markets adapt and change to fill a need. So solutions will rise to the occasion. If you want to get rich then try to identify those market needs and get in on the ground floor early. I know individuals that have carved out niche business in the last 5 years that cater to seniors and they have more business then they can handle. One solution you will see more of is the Golden Girls model where seniors are sharing living spaces.

Yaaasss. Love it.
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Old Yesterday, 10:11 PM
 
Location: St Simons Island, GA
23,124 posts, read 35,061,639 times
Reputation: 15314
Quote:
Originally Posted by lorilove View Post
This absolutely a major issue that very few individuals are talking about. I believe that markets adapt and change to fill a need. So solutions will rise to the occasion. If you want to get rich then try to identify those market needs and get in on the ground floor early. I know individuals that have carved out niche business in the last 5 years that cater to seniors and they have more business then they can handle. One solution you will see more of is the Golden Girls model where seniors are sharing living spaces.
I was shopping at the local supermarket the other day and was surprised by the number of personal shoppers I saw in there. They wear sport shirts to identify their service; there they were, pushing the baskets and ticking off items on their devices as they proceeded down the aisles. SSI is lousy with seniors with money, though, so I should have expected this development.
I was beginning to notice this at the Toco Hill (another area with a high senior count) Publix before I moved last year.
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