The skyrocketing cost of living is severely impacting seniors as shown by 1) the proliferation of reverse mortgages, 2) increasing numbers of seniors who are still carrying a mortgage, and 3) seniors increasingly carrying other forms of debt. And they AREN'T getting social security colas to help cope. And -like most americans- they also lack adequate savings. All making a perfect storm culminating in a steady rise in homelessness in seniors.
I would agree that the number of homeless senior’s in the US and for that matter all over North America is increasing. With the rise in prices of food, shelter and transportation, who can keep up? If seniors are going to stand a fighting chance, something has to be done.
With both private companies and state and local governments struggling to meet their obligations to pay retirees' pensions, the future of retirement as a basic right for all workers have never seemed more uncertain. That this is having a directly adverse affect on senior citizens in the present is without doubt, as I've seen evidence of it first hand. The town I live in, Savannah, GA, has always had a substantial homeless population for its size. But in recent years, that population has boomed to unprecedented heights, and a much larger proportion of them are elderly men. In fact, I've talked to at least three of these homeless men, who've imparted to me that their homelessness is indeed a direct result of the failure of their retirement or pension funds.
We can blame that the homeless on the our home street corners may appear to be rising, but there is no way that there numbers are correlated with the cost of retirement of other seniors. If there children can't take them in, there are government programs to help them. Homeless seniors are a different problem.
With costs increasing for many social groups, seniors are always some of the hardest hit, as they are generally on a fixed income. However, studies so far have shown that seniors will stop other activities long before they are homeless; such as travel and doctors visits. Not to be overly general, but by stopping those two activities, most seniors usually start to get the help they need, as very few want to see their parents/grandparents in that scenario.
But I imagine as time progresses, and the Boomer generation gets older, there will be a steady increase in the senior homeless population. It is an inevitability of having an aging populace.