Inflation and high housing costs spur more baby boomers to find roommates

Amid high inflation and rising housing costs, some seniors are turning to home-sharing. Economics correspondent Paul Solman has the story about a growing number of baby boomers who are becoming “boommates.”

Amid high inflation and rising housing costs is not just young people looking for roommates, some americans in their sixties and seventies our economics correspondent paul solman has the story about a growing number of baby boomers who are considering becoming boom mates. for years. becky miller age. 72 had only one companion. and miller, retired receptionist was having

Trouble making ends meet fees were over half of my income, so i decided for financial reasons. to get a roommate 64 year old divorce say marlene mears moved into miller’s longman, colorado home a year and a half ago. like saving how about a relationship with it’s nice to have some companionship when you’re at home. it’s not happy years found each other on silver nest

And internet platform that matches older homeowners with housemates. there’s a significant portion of the population going into there. mid sixties, you know, with 20 $30,000 in their four oh one k s or nothing saved is starting to fade. so seniors like miller and mirrors feel the need to home share, says silver ness president riley gibson since the start of 2022, with

Inflation rising just people under so much more financial pressure. the first half of this year we’ve by far more activity, probably 2 to 3 times the activity we’ve seen in previous years. but it’s just part of a much longer term trend, explains harvard’s jennifer molinski often hear about the golden girls television show. no, it’s awful, but i have this incredible sweet

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To what is it cheesecake? kind chocolate? i think this could be the beginning of a beautiful friendship. turns out dorothy rose blanche and sophia harbinger 20 years ago was about 1% of older. today. it’s over a million older adults more than double the number in that time wonder, given the rise in housing costs come on. in folks over a third of older adults. households

Have a cost burden, paying over 30% of their income on housing. half of those are paying more than 50% of their income on housing. what people do is they start cutting back on other necessities like food and out of pocket medical care insurance, which really affects much more than your financial well being. it affects your overall well being. brenda at rison’s house in

The roxbury neighborhood of boston, has been in her family since 1946. this is where i sleep. this is my bedroom and has a lot of just artifacts and stained glass. but after a career in i, t and education ended in struggle to maintain kind of retired prematurely and realized i had a big old house that did it be heated, needed repairs, etcetera and that i was older, into

An area where it’s going to have a fixed income. and begin to say, oh, how are we going to work this out? she worked it out by renting a room to a young grand student. for me. this was a major move in terms of my lifestyle because i wasn’t used to sherry lovely. and this is christians room. surprisingly lovely. in fact, so my beds and then i spent most of my time sitting

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Here. rwandan, dr. christian mazin parka, is studying public health at boston university. she’s very organized, and she likes to press to be clean. and that’s was not new to me because my mom was like that. remind you of your she’ll remind you. you see, she keeps an eye on him. he on her, but do you worry about her? sometimes i mean, particularly during covid. yeah. i

Feel like if i stay in my room, and i don’t hear and acheson who single now really likes having someone around to be able to be connecting with people who are outside of my spear. christian is not my peer. none of this students who have come here have been my peers. but have they all been my friends? had they all see, i love learning. i just want to continue to learn.

Connection is key, since social isolation for the elderly is linked to higher risk of depression, dementia, premature death. at first, becky miller wasn’t so sure she wanted someone sharing i thought, oh, my gosh. somebody’s going to come in and use my kitchen. i did. she did, but that turned into the proverbial blessing in disguise. all this chicken recipe that she’s

Making tonight. what’s the name of that chicken rustling mediterranean chicken thighs with lemon pig out on that. but of course, taking in an unknown roommate isn’t for everyone don’t want strangers in my house. that’s my cousin debra signs every week, i zoom with her and other relatives, all retired i don’t care how nice they are. i don’t want them messing with my being

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Able to eat if i want to naughty if i don’t want to. i think the word is free. this resonate for you, rosemary. yes. yes, i would rather cut down on other things than than have a paying roommate. downstairs contrast, my sister rani. a widow started but i found i found it was rewarding to have another human on the property also sense of company. i think for me it was

Mostly financial cousin, padme, a. 73 had hoped for more connection from her housemates. but i had a few people who were not social. i just had to let go of my ideas about more companionship. more boomers retire, and if the cost of living keeps climbing, home sharing may become a commonplace we’re going to have to get creative and try some new things. find some new ways

Of living, finding new ways to think about the single family home because we have to. brenda atchison is glad she did being been that’s not comfortable. it’s not. i can tell you it’s not a comfortable feeling. i lived on that edge for quite some time. so i don’t ever want to go back to that. but, she says, it’s the social peace. that means more to me now than the financial

Piece ever could. becky miller. she agrees. i get a feeling of peace. i have room in my heart for another person relationships born of necessity that have grown into something a lot less transactional

Transcribed from video
Inflation and high housing costs spur more baby boomers to find roommates By PBS NewsHour