People become homeless later in life due to a combination of factors including
economic hardship (job loss, low wages, and rising housing costs),
health issues (physical and mental health problems, and substance abuse), and
personal crises like relationship breakdowns or the death of a partner. For many, a "precipitating event," such as an eviction, health crisis, or death of a primary earner, can trigger homelessness after a period of living paycheck to paycheck.
Economic factors
- Job loss and low wages: Layoffs, job loss, or being stuck in low-paying jobs can make it impossible to keep up with expenses.
- High cost of living: Rising rents and housing costs outpace wage growth for many, making it difficult to afford to stay in a home, especially for those living on fixed incomes or from paycheck to paycheck.
- Loss of assets: Events like divorce or the death of a breadwinning spouse can lead to significant financial instability.
Health and personal factors
- Physical and mental health issues: Chronic or acute physical or mental health problems can make it difficult to maintain employment and housing, and can lead to significant medical debt.
- Substance abuse: Addiction can lead to job loss, strained relationships, and financial ruin, making it a major contributor to homelessness.
- Relationship breakdown: A spouse's death, divorce, or family disputes can lead to a loss of housing, and shame or addiction can prevent individuals from seeking help from friends or family.
- Domestic violence: Fleeing an abusive situation can leave someone with nowhere to go.
Systemic and other factors
- Lack of affordable housing: A shortage of deeply affordable housing options makes it difficult for people to find a place to live, even if they have a job.
- Weak social safety nets: Insufficient support systems, including limited access to social security, disability benefits, and job training, leave vulnerable individuals without a safety net to fall back on.
- Legal problems: A family member’s death or a complex legal loophole can result in the loss of a home.