On Saturday, August 21, 2021, we observe World Senior Citizen’s Day. As we continue to experience shifts in human population, it is important to keep in mind the diversity and equity challenges that may exist among the aging population. The Silver Tsunami (also known as Grey Tsunami, Silver Wave, or Grave Wave) is a metaphor to describe the population of persons over the age of 60. The term initially used when the baby boomer generation entered their 60s and concern rose regarding the effect that the aging population would have on health care, the workforce, and the housing market.
Aside from the health care system, which continues to see an increase in need not only due to the pandemic, but also from the increase in life expectancy and older individuals being more likely to have chronic illnesses and a need for long-term care, the workforce and housing markets have not seen the expected impacts. Many senior citizens have chosen to remain in their homes, therefore not creating an overabundance of homes on the market and driving home values down as originally thought. And, the workforce did not see a mass exodus of experienced workers, but instead has seen a need among the older population to continue working much later than anticipated due to the recession of 2008-2009 and an increase in the cost of living.
What is of concern currently among older adults is the expected need for housing for low-income and impoverished persons. According to the 2017 study ‘The Emerging Crisis of Aged Homelessness’, it is predicted that homelessness among people over the age of 65 will triple in the next 10 years. The impacts of back-to-back recessions, a crowded labor market, high interest rates, and the rising prices of homes was significant on many persons born between 1955 and 1964, however, those issues were compounded for people of color. Many people of this age were never fully able to overcome these significant impacts and are now facing their mid-sixties with little to no savings.
As shared in the 2019 Fact Sheet: Aging in the United States, there are wide economic disparities between non-Hispanic whites, Latinos, and African American adults aged 65 and older. In 2017, 17% of Latinos and 19% of African Americans lived in poverty versus 7% of non-Hispanic white persons. While there are federally subsidized housing options available through two Department of Housing and Urban Development (HUD) programs, it is not nearly enough to combat the predicted number of elderly homeless persons. “Policymakers can improve the outlook for the future by reducing current gaps in education, employment, and earnings among younger workers.”
For additional education and personal development related to diversity, equity and inclusion, please us the following resources: DDEI Education and Resources, DEI & Antiracism Resources from the UNC Libraries, and the Education Equity Toolkit from the Colorado Department of Higher Education.
