Retirement insecurity and rising housing costs prompt more older adults to move in together.
Four decades later, the idea of housemates late into adulthood is experiencing a revival, but with financial factors front and center. As boomers live longer and retire without the financial safety net of employer-sponsored pensions, covering the rising costs of food, housing and insurance become major considerations.
The two went through the NYFSC program to handle the background checks, vetting and administrative details before Halter moved into Campbell’s rent-stabilized one-bedroom apartment in Greenwich Village. Before the pandemic, the two lived somewhat separate lives. Campbell lived mostly in the bedroom and Halter lived mostly in the living room. But when the city shut down, they developed a strong friendship.
While the dozen home sharers interviewed for this article insisted their parents would have found the idea outlandish, having housemates later in life seems to be finding more acceptance.