According to Rachel Carviello, vice president of Affordable Living for the Aging (ALA), there are 130,000 households where the cohabiters are aged 50 or older, and where they have no familial relationship or romantic connection. By 2030, the Federal Administration on Aging says one out of every five Americans will be 65 or older. Couple those two statistics together and you can see this trend will only continue to skyrocket. Caraviello believes this is a manifestation of “the sharing economy.” This is where one party is house-rich but cash-poor and the other has money or services to contribute.
AARP’s Public Policy Institute says the agreements between people can range in scope. One party can help with shopping, cooking, or informal caregiving while the other party is financially responsible for the well-being of the home they live in. Boomers are choosing more often than not to “age in place” while they can vs. immediately moving to a retirement community. AARP believes while few do it now, this is a trend that will certainly continue especially with that option becoming more and more available.
Roommate Matching Services
Affordable Living is a non-profit and charges their clients nothing for its matching services. It vets both the housing-provider and the house-seeker. The review process involves a visit to the provider’s house, the getting of two personal references, and a cross-check of the potential housemate’s names against the national registry of sex offenders.
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