By Mimi Santry
The lack of affordable housing is a concern facing many younger people in the U.S. Construction hasn’t kept up with demand, and many municipalities have greatly restricted the development of new inventory through permitting and other regulatory restrictions. According to the National Association of Realtors, the national median single-family home now costs $426,800, making home ownership unattainable for many first-time purchasers. Home ownership, a key component of the “American Dream” previously happened for 20–30-year-olds and now many families have to wait until they are in their 40’s…. if at all.
At the same time, there is a crisis of older Americans who are dealing with loneliness and isolation. Many older people need help with basic chores and would welcome having an able-bodied tenant/roommate to help and with whom to interact.
Could the solution to both challenges be the acceptance and promotion of longer-term intergenerational housing? Utilizing the existing housing stock of 145 million homes more efficiently and providing homeowners/tenants with a roadmap for how to structure this kind of arrangement – might be a path to consider. By encouraging and allowing house-sharing arrangements, we might be able to mitigate two problems with one solution.
Imagine a system where students/young adults would receive attractive housing in exchange for reduced rent and an obligation to help in the household. Tasks might be scheduled activities such as driving, grocery shopping or light housework. Tasks could be designed to fit the needs and schedules of both participants. The older homeowner would receive support and companionship, and the younger adult would receive a safe and affordable housing situation.
According to the New York Times “Economists estimate that America needs between four million and eight million more homes…it takes money to buy land, time to secure permits. In the meantime, construction costs have exploded. That’s why most new homes tend to be luxury rentals or higher-cost houses, rather than something a person with a middle or lower income can afford. Those lower-cost units, however, are the ones in the shortest supply.”
A survey of homeowners across the United States, shows that there is an interest in leasing excess rooms (40% indicated interest) but only few actually do it (2 %).The obstacles seem obvious. How would matches work? How do you screen potential tenants? What kind of documentation would be required? How could participants be protected from abuse or fraud? How would payments happen? Would homes need to be reconfigured for privacy/access? Would state and local regulations allow these arrangements
Already many states have embraced this initiative and have “home-share” offices that work to facilitate affordable housing arrangements. The National Shared Housing Resource Center (www.nationalsharedhousing. org) is a network of independent non-profit home sharing programs across the U.S. They are working to develop best practices and educate people about the benefits of home sharing. There are companies that also serve to match homeowner and tenants. These include Nesterly.com and Pad Split. Unfortunately, Connecticut does not have a NSHRC office, nor much of a Nesterly or Pad Split footprint.
I encourage our community leaders and residents to explore this as a possible solution to two significant issues: loneliness/ isolation and the need for affordable housing. This could be a win-win for everyone.
Mimi Santry is a long-time Greenwich resident and certified senior advisor and owner of Assisted Living Locators. She works with families on issues of care and housing.
