Next Avenue: Intergenerational living is changing the face of aging, and the housing industry is paying attention

by | Aug 10, 2023 | Stock Market

This article is reprinted by permission from If baby boomers have made one desire patently clear it’s that they do not expect to age the way their grandparents and parents did. Those aged 59 and older are working longer, expect to live more active lives, and show a greater interest than previous generations in choosing how and where they live as they grow older, according to a report by the Population Reference Bureau.

Businesses across the country, especially in the housing industry, are paying attention. Where assisted-living and 55-plus communities once were the main focus, today an increasing number of entrepreneurs look to intergenerational housing as the wave of the housing future. The result is a list of growing options for older adults interested in housing options as they age.Two problems, one solution The interest in offering different housing options is inspired by both financial and social needs. Affordable housing is in short supply in cities across America. At the same time, many older adults are challenged to pay the bills in the house they currently inhabit and worry they will not be able to age in place. Alternative housing options that unite generations rather than separate them offer additional pluses, proponents say. Interaction between generations can help address or prevent many of the problems associated with aging, such as social isolation and general feelings of uselessness. A 2023 Surgeon’s General report, for instance, estimates that social isolation among older adults accounts for about $6.7 billion in additional Medicare spending annually. Providing generations mo …

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