In 1997 Americans over 55 numbered 56 million, according to the U.S. Census Bureau. By 2010, that number is projected to rise to 75 million. While many are able to remain in their own homes, many others aren't able to afford housing. And California has the highest housing costs of any state in the country. That situation that makes affordable senior housing a problem particularly in San Francisco, Los Angeles and San Diego, where housing prices are highest, as are concentrations of older adults.
Powers notes the federal government has eliminated some programs aimed at insuring affordability.
In addition, with a hot housing market operating, developers often say no thank you to local government subsidies. In a slumping market, those same developers once snapped up government funds in return for agreeing to earmark part of their developments as low-income housing, some for seniors. Now, those units aren't being built. Many are choosing to do so. Just such a thing is happening in the city of Monrovia, where an 80-unit senior housing project is converting to a regular apartment building because the developer's lease with HUD has expired.