The document discusses the challenges faced by older Americans regarding housing affordability, including issues related to renting, homeownership, and predatory lending. It highlights the implications of eminent domain and mortgage fraud on elderly populations, as well as the declining role of community organizations in supporting them. Overall, it emphasizes the importance of maintaining livable communities for older adults through various supportive measures.

1. OLDER AMERICANS AND RESIDENTIAL
STABILITY:
Maintaining Livable Communities Through
the 21st
Century
Produced by: Andrew Carswell, University of Georgia
UGA Conference on Aging
Cobb Galleria – Atlanta, GA
May 15, 2006

2. Issues To Be Covered
• Housing Affordability/Lending Issues
• Eminent Domain
• Mortgage Fraud
• Neighborhood Associations
• Home/Residential Design
• Transportation Issues/Proximity to
Services

3. 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

4. Housing Affordability
Rental Cost Burdens
Source: www.nlihc.org

5. 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

6. Targeting Older Americans
Predatory Lenders
• Contrasted with
“subprime” industry
• Examples of abuses
• Implications for older
adults
• Methods of
addressing predatory
lenders
Source: http://www.occc.state.tx.us

7. Panacea for Elderly Housing Cost Concerns
The Housing Counselor
• RAM/HECM
counseling
• Predatory lending
• Fair housing
• Default/delinquency
• Other types
Source: www.reversepro.com/3pro.jpg

8. Housing Costs for Americans 50+
Source: http://www.cmcgc.com/media/handouts/260126/SAT-PDF/680-Kochera.PDF

9. Source: http://www.cmcgc.com/media/handouts/260126/SAT-PDF/680-
Kochera.PDF

10. Eminent Domain – Implications for the
Elderly?
Source: http://redstatepatriot.com/brookins.jpg

11. 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

12. Source: FBI

13. 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

14. Neighborhood Consequences of
Mortgage Fraud

15. 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

16. …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

17. 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/2601
26/SAT-PDF/680-Kochera.PDF

18. The Tie-In Between Community Strength
and Personal Satisfaction