Retirement's Double Dip

A growing housing crisis is severely impacting retired renters in the United States, pushing a significant number into poverty and financial instability. The article highlights how escalating rents, coupled with stagnant retirement incomes, are creating a precarious situation for many seniors who lack homeownership. While government data presents a rosier picture of senior poverty, the article argues that official metrics underestimate the true extent of the problem. The Supplemental Poverty Measure (SPM), which accounts for housing costs, reveals a much higher poverty rate among retired renters compared to homeowners. Many retirees rely on fixed incomes from Social Security, pensions, and savings, which are often insufficient to keep pace with rising rents. This forces them to make difficult choices between housing, food, healthcare, and other essential needs. The article also emphasizes the particular vulnerability of minority retirees, who often face greater challenges in securing affordable housing. The root cause of this housing crisis is attributed to decades of policies favoring the wealthy, underinvestment in affordable housing, and unchecked rent increases. The article criticizes both the Democratic and Republican parties for failing to address the growing inequality and the affordable housing shortage. It argues that systemic changes are needed to protect the housing rights and economic security of retired renters. find the original article here: https://www.wsws.org/en/articles/2025/03/05/hnjk-m05.html