Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression,' per Moneywise.

Numerous individuals from the baby boomer generation across the nation are confronting a stark reality: dedicating one's entire adult life to work no longer guarantees a secure roof overhead during their later years.

A Wall Street Journal report, drawing on data from the Department of Housing and Urban Development, attributes this phenomenon to a combination of factors, including economic recessions, soaring housing expenses, and a shortage of affordable housing. Consequently, older adults constitute the most rapidly growing segment of the homeless population in the United States.

In a 2020 article published in the American Society on Aging journal, Dr. Margot Kushel noted that during the early 1990s, only 11% of homeless single adults were aged 50 and older. By 2003, this proportion had surged to 37%.

Presently, individuals aged 50 and above account for half of all homeless single adults in the U.S., and there is no indication of this trend slowing down. This precarious situation places baby boomers, those aged between 57 and 75, in a particularly vulnerable position.