Housing Impact of Aging in Place
This is the California real estate update for February 2nd. Hello this is Mary West and this segment is sponsored by Group 1 Real Estate.
Did you know that by 2035 one in five Americans will be older than 65 and studies show that want to remain at home? This means about 80 million people will need affordable housing and access to social services.
According to Jennifer Molinsky Senior Research Associate with The Joint Center for Housing Studies at Harvard University, older Americans who want to “age in place” will face these obstacles:
· the need long-term care which is expensive, and
· housing which is expensive.
These obstacles will require that planning needs to be done at both the individual and societal level. Next week we will look at ways communities and families can prepare for these changes.
Thank you for listening and for a transcript, please visit Group1RealEstate.com. This is Mary West with the California Real Estate Update by Group 1 Real Estate.