Baby boomer homeowners fear losing their properties as they spend down their savings

Getty Images; Jenny Chang-Rodriguez/BI

• Older people, including homeowners, are increasingly facing housing insecurity.
• The phenomenon is in part due to housing shortages, inflation, and an aging population.
• Some homeowners told BI they live in fear of losing their properties.

Owning a home has long been a pillar of the American dream, but for many older homeowners, it's no longer providing the retirement security it once did.

Many baby boomers are struggling with rising home repair costs...