Are we ready to meet the housing needs of the US elder population?

As time passes everyone gets older, our health gets worse and times change. What doesn’t seem to be changing is the accessibility and supply for housing that will accommodate people over the age of 65. Housing that is in a good location, affordable and near health facilities is limited!

According to  Housing America’s Older Adults – Meeting the Needs of An Aging Population, the number of adults in the U.S. aged 50 and over is expected to grow to 132 million by 2030, an increase of more than 70 percent since 2000.

There are many things that people start to need as they grow older, health insurance being one of them! Without proper housing, elder citizens are spending their retirement and savings, along with scaling back on health coverage, just to afford a place to be living.

“As Americans age, the need for safe and affordable housing options becomes even more critical,” says Lisa Marsh Ryerson, President of the AARP Foundation. “High housing costs, aging homes, and costly repairs can greatly impact those with limited incomes. The goal in our support of this report is to address the most critical needs of these households and it is AARP Foundation’s aim to provide the tools and resources to help them meet these needs now and in the future.”

Read more about this intriguing issue that will some day affect us all! 

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., #125 Henderson, NV 89074. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

The Power of Student Loans and Debt

We are constantly hearing recent college graduates complain, express troubles and struggling to pay off their excessive student loans. Student loan debt has officially overtaken the number of auto loans, credit card debt and home-equity debt.

Student debt, however, implies college education, which implies earnings. The statistic still stands that people with a college degree will make more than people without. That is why economists have always thought people with student debt would most likely have an auto and mortgage loan as well. Recently this has changed and professionals believe student loans are the reason for the limited demand for mortgage and auto loans.

“For the first time in at least ten years, thirty-year-olds with no history of student loans are more likely to have home-secured debt than those with a history of student loans.”

Liberty Street Economics has examined trends of homeownership, loans and auto ownership of certain ages and markets in the U.S. There are charts followed by explanations and references. Visit the article to read more about student loans and their correlation with mortgage and auto loans.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., #125 Henderson, NV 89074. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.