Survey: One-third of Boomers Report “Housing Affordability” Anxiety at Least Once a Month; 42% of Retirees Have Such Anxiety Daily New research also finds housing affordability anxiety now “multi-generational” New York, NY— While it is too soon to tell how the new administration will affect the construction and cost of affordable housing, the nation’s 75 million baby boomers are weighing in with their housing concerns. According to a new survey of 1000 Americans aged 55+ from The NHP Foundation, a not-for-profit provider of service-enriched affordable housing, 30% experience anxiety about being able to afford where they live at least once a month, with 42% of retirees reporting such anxiety at least once daily. When asked what causes the greatest anxiety, 46% of respondents said they worry about “the ability to afford desirable retirement living.” Nearly 65% of boomers worry at least once a month about their adult children’s ability to afford desirable housing Over 10% 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 mortgage, and 43% most concerned about the next generation’s retirement savings. “The anxiety is now multi-generational,” according to NHPF CEO Richard Burns, “So we are working today to increase our stock of affordable housing to ensure that this and future generations are able to afford desirable places to live.” The NHP Foundation Baby Boomer survey is the third in a series. The first queried the general population about housing affordability, determining that 75% of the population worried at any given time about losing their housing. The second zeroed in on millennials, finding that 76% of that group have made compromises in order to find affordable housing. “These findings underscore the urgency to make housing affordability solutions a priority in America especially for those most vulnerable,” added Ali Solis, President and CEO of MakeRoom, a national renter’s advocacy group. Nearly one-quarter of boomers worry about affording rent/mortgage payments,but geography plays role Although 24% of those queried say they‘re most anxious about being able to afford their rent or mortgage, there are geographical differences. Just under 20% of those in the midwest worry about affording rent or mortgage payments while 38% of those in the south rank this their biggest worry.
THE NHP FOUNDATION
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