According to the National League for Homelessness, more than 146,000 people have no shelter. By 2030, these figures are expected to triple it. Why is the high-level homeless suddenly rising? These are five reasons why it is expected to reach crisis levels in the next five years.
1. Soaring housing costs
Housing costs have soared in many cities, making it nearly impossible for older people to afford rent. Many older people live in social security, which usually fail to cover basic housing costs. The lack of affordable premium housing options forces many people to sit on the couch, live in cars or end up on the streets. Property taxes and home maintenance costs are also rising, causing some older people to lose their homes they have owned for decades. Gentrification is another major factor as long-term residents are driven out of their communities for years. Expanding affordable housing programs and providing rent assistance to seniors can help resolve the crisis.
2. Inadequate retirement savings
Many older people are reaching retirement age and do not have enough savings to support themselves. The transition from pension to 401(k) plans has left millions of retirees without a stable source of income. Unexpected medical expenses, inflation and increased cost of living can quickly drain any savings they make. As a result, more seniors were forced to continue working in the 1970s and 1980s, but job opportunities were often limited for older people. Once they can no longer work, many find themselves unable to pay rent or daily necessities. Strengthening retirement benefits and providing financial literacy programs for the aging population can help prevent future senior homeless people.
3. Medical debt and health care expenses
As we all know, medical expenses in the United States are very high, and the elderly often bear the brunt of the brunt. Medicare doesn’t cover everything, leaving many older people struggling to pay for prescriptions, long-term care and necessary medical services. Sudden health crisis can eliminate savings in seniors, forcing them to choose between medical care and housing. Many older people are also spouses of caregivers, adding another layer of financial stress. Without adequate healthcare support, older people with chronic diseases may be forced to be homeless when they can no longer afford treatment. Expanding Medicare coverage and implementing a medical debt relief program can help alleviate this burden.
4. Social support system
Many older people rely on family members to get support, but changing family dynamics mean fewer people can turn to relatives. Divorce rates rise, lower birth rates and further separation of families with families weaken traditional support networks. Additionally, older people who experience abuse of seniors or financial exploitation of family members may not have a safe place. Shelter and housing programs often lack the resources needed to adapt to older people with mobility problems or health problems. Many government programs designed to help struggling older people have long wait lists that prevent them from ease immediately. Investing in a high-level focus shelter and community support program is critical to addressing this growing problem.
5. Unemployment and age discrimination
Many older people want or need to continue working, but age discrimination makes it difficult for them to find stable employment. Assuming they are less competent or adaptable than young workers, some employers are reluctant to hire older people. Layouts and company reductions are often targeted first with older employees, and it is challenging to have no income at the stage of their lives when looking for new jobs.
Most importantly, as many older people struggle with technology-based jobs, the rise of the gig economy has also made stable employment difficult to ensure. Without a job, older people will not be able to access employer-sponsored health insurance and other key benefits. Stronger workplace protection for age discrimination and expanded work training programs can help older people stay financially safe.
Fight against senior homeless people
While senior homeless people are on the rise, there are some things we can do to fight it. Expanding affordable housing programs, enhancing retirement benefits and increasing health care support are key steps to address the problem. Awareness of the problem is increasingly helping to improve the homeless crisis facing our country. The sooner you take action, the better!
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