As the baby boomer generation reaches retirement age, years of stagnant wages and worsening wealth inequalities are leaving millions of seniors unable to afford housing.
A substantial amount of affordable senior housing will need to be developed to accommodate this population, but that type of housing typically requires the most public subsidies, as many renters have little to no income.
Housing developers and public officials speaking Tuesday on Bisnow’s Mid-Atlantic Senior Housing digital summit highlighted the scale of this growing crisis and the level of public investment that will be required to address it.
Enterprise Community Development President Brian McLaughlin said the stagnant level of wages for many jobs in retail, education, healthcare and other professions has left millions of Americans struggling to afford housing throughout their adult years.
