Termed the “silver tsunami,” a new crisis of aging baby boomers is reshaping the demographics of America’s homeless population. Now older adults are becoming the fastest-growing segment of people living on the street.
The American dream of a comfortable retirement is turning into a nightmare for many baby boomers. The rising tide of housing costs, economic downturns, and inflated living expenses is increasingly propelling them into homelessness.
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Factors Fueling the Silver Tsunami
The Wall Street Journal, citing data from the Department of Housing and Urban Development, details the unprecedented rise in elderly homelessness, likening it to a phenomenon not witnessed since the Great Depression.
The silver tsunami is propelled by a combination of factors, including inadequate retirement planning, high housing costs, and the lingering impacts of recessions.
