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Where Are the Baby Boomers Going to Live Out Their Golden Years?

The share of elderly Americans is increasing. National preparedness for their housing needs is not.
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Mike Blake/Reuters

We love to talk about Millennials. In headlines today, for example, there's talk about how Millennials prefer cash over credit and how they're the absolute worst in the office (except when they're not). But we could stand to spend more time talking about Baby Boomers. With their ranks marching steadily toward retirement, the nation faces an unprecedented challenge in meeting their needs, especially when it comes to housing. No amount of wearable tech can put off this crisis.

A new report by Harvard University's Joint Center for Housing Studies shows how quickly the nation is moving toward its golden years. By 2030, one in five Americans will have hit the retirement age (65, if the current age stands). Census projections show that the population aged 50 to 64 will remain steady (and high) over the next three decades. The number of Americans ages 65 to 79 will climb dramatically, more than doubling between 2010 and 2030. And by 2040, there will be more than three times the number of Americans age 80 and older than there were in 2000.