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OLDER AMERICANS AND RESIDENTIAL STABILITY:
Maintaining Livable Communities Through the 21st Century
Produced by: Andrew Carswell, University of GeorgiaUGA Conference on Aging
Cobb Galleria – Atlanta, GAMay 15, 2006
Issues To Be Covered
• Housing Affordability/Lending Issues• Eminent Domain• Mortgage Fraud• Neighborhood Associations• Home/Residential Design• Transportation Issues/Proximity to
Services
Housing Affordability for Older Americans
The Renter Population• Older homeless could
be as high as 80,000 (Burt et al, 2001)
• Rental cost burden prohibitive for older populations
• Additional concerns for MF operators as well
Source: www.architypes.net
Housing Affordability for Older Americans
The Homeownership Option• >80% of older persons
are considered HOs (Golant, 2003)
• Most HO’s reluctant to “cash out” on existing home (Venti & Wise, 2001)
• Still, a lot of “cash poor, house poor” HO’s (Golant, 2003)
• Growth of RAMs as a housing finance vehicle
Source: research.edm.luc.ac.be
Targeting Older AmericansPredatory Lenders
• Contrasted with “subprime” industry
• Examples of abuses• Implications for older
adults• Methods of
addressing predatory lenders
Source: http://www.occc.state.tx.us
Panacea for Elderly Housing Cost ConcernsThe Housing Counselor
• RAM/HECM counseling
• Predatory lending• Fair housing• Default/delinquency• Other types
Source: www.reversepro.com/3pro.jpg
Housing Costs for Americans 50+
Source: http://www.cmcgc.com/media/handouts/260126/SAT-PDF/680-Kochera.PDF
Eminent Domain Concerns Regarding Older Americans
• Kelo decision – Summer 2005
• AARP files amicus brief supporting limitations on eminent domain
• Increasing number of cases involving older communities
Source: www.gamepolitics.com
Economic Consequences of Mortgage Fraud
• Falsely escalated property values
• Increases in property taxes and home owner’s insurance
• Increases in foreclosures
• Neighborhood decline
Source: Sarah Gillespie
The Importance and Evolution of Community Organizations…
• Devolution of government services
• Strengthening of neighborhood orgs.
• Becomes all the more important over time
• Still concerns for older neighborhoods
Source: http://www.gao.gov
…To Counter a Decline In Neighboring Nationwide
• Membership in social orgs. declining over time
• These orgs. are less grass roots in nature
• Activities of neighborhood orgs. have evolved
• These orgs. helpful, but not entirely necessary for building social capital
Source: www.bowlingalone.com
The Tie-In Between Community Strength and Personal Satisfaction
Source: Kochera, Andrew. (2005). A Report to the Nation on Livable Communities: Creating Environments for Successful
Aging. AARP: Washington, DC.
Source: http://www.cmcgc.com/media/handouts/260126/SAT-PDF/680-Kochera.PDF