Amid the affordable housing crisis, more than 33% of Americans 65 years of age and older do not have money saved for retirement. Rent and mortgage prices have skyrocketed since the start of the pandemic, making living expenses increasingly unattainable for older Americans. For many, the loss of a spouse and post-divorce expenses exacerbate this financial strain.
And as inflation continues to climb, some Baby Boomers are seeking out roommates to make ends meet.
A 2016 study showed 70% more seniors have reported living with a roommate than the decade before. Silvernest, an online senior housing service, utilizes a unique member matching system to pair roommates. The service seeks to facilitate personal aspects of shared housing, focusing on accessibility and relief from social isolation. The company conducts paid background checks and utilizes comprehensive identity verification software to ensure safe housing and living conditions for its members.
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