Linda Lara always wanted to become the owner of a house. But being a single mother, the care of her elderly parents, and helping to raise her three granddaughters made it impossible to gather together enough to pay.
Nearly six years ago, Lara was fortunate enough to get out of the waiting list in developing large housing supported in San Matteo, California, the city 30 minutes south of San Francisco and which she called home for decades. Despite its lease less than the market, Lara still has to work for 20 hours a week to supplement social security checks and pay their bills. Like many older Americans, she spoke with Lara, don’t think she will be able to retire.
When Lara’s 12 -year -old daughter, they moved to a single bedroom apartment in San Matteo ended with Lara to almost 30 years. They loved the neighborhood, the “charming” features of the old apartment, and most importantly, the rent at reasonable prices. Lara did not want to leave.
Lara told Bi: “She had hard wood floors and arches, and she had an old stove and a old stove. “It was a really sweet small apartment.”
But in 2019, the residential building was sold. The new owners told Lara that they were more than twice the rent, which she could not bear.
Lara managed to move to the 2019 top housing, after spending several years on the waiting list.
With the permission of Linda Lara
Fortunately, Lara entered herself in many lottery for low -income apartments a few years ago. Just as she was forcing her to leave her home, she was told that she was chosen for a 380 square feet studio apartment in a subsidized building offered to the oldest population a few buildings from her home long. She took the opportunity and moved quickly, comfortably to pay less than $ 800 per month.
“It was like a miracle, a gift from the sky that presented herself when I needed it,” Lara said.
But the rent rises every year. It is now about $ 1,000 per month. Lara part -time works as an office official in the province’s garden department, which pays about $ 2,170 per month, and she raised $ 1547 in monthly social security. Her social security payments are less than it was because it took the benefit early, in 62, when she stopped working full time to help take care of her granddaughter.
Lara is concerned that if she lost her job or is no longer able to work, she will not be able to withstand her supported home expenses. With very little savings, retirement is out of it.
She said, “I will likely work until I die.” “Unless I move to a far place, this is much less expensive.”
Are you struggling to withstand your housing costs, or are unable to find suitable housing? Contact this reporter in ERELMAN@BUSINESINSISIERER.
Rare housing retirement
Lara is far from alone. One in five Americans 50 or larger says They have no retirement savingsAn AARP survey last year and more than half of them were concerned that they had no enough to save them for their continuation during the end of their lives.
Housing is a large part of the problem. Many children are struggling to find affordable and accessible homes. Even those who own their home and have seen their shares in homes in recent years face difficulty in finding smaller homes to reduce their size.
A record number of homeowners 65 and above-about a third of ancient families-loaded by cost, and this means that they are Spend more than 30 % of their income On housing and facilities, the Harvard 2023 report was found. This is especially difficult for those who have a fixed income. As a result, the elderly are increasingly facing homelessness. Singer adults 50 or larger It is now estimated that about half of the population of the United States is homeless, an increase of about 10 % three decades ago.
Lara does not want to get away. She has deep roots in her community, her daughter, her son -in -law, and a granddaughter who lives near. She said that she is not afraid to be expelled from San Matteo or the Gulf region when she was raising her daughter. But these days, she said, nothing at reasonable prices.
“The prices of apartments are out of control,” she said. “I must stay in this apartment so that I can’t afford this anymore, then I don’t know what to do.”
