‘These are life choices’: Rising living costs force seniors to find roommates, avoid loneliness

A recent article featured a 72-year-old man who has been priced out of his previous living situation despite having a very successful career, and is now unable to live on his own.

The story led Jake Skorheim and Spike O’Neill, co-hosts of “The Jake and Spike Show” on KIRO Newsradio, to run down the rising number of seniors being priced out as they navigate retirement, and why more seniors have sought roommates to cover costs.

“Folks who work for a living, when you get to the point of being on a fixed income, when you get to retirement age, in your 60s, you’ve got only so much you can do,” Spike said. “Housing costs have risen, risen, risen, and the cost of all these things is pricing people out. People are realizing that having a shared living space is becoming far more common because it addresses both the financial considerations and the loneliness factors.”

40% of older adults lonely as housing costs force roommate searches

Jake noted another statistic in the article: 40% of older adults are lonely, which has led to an increased number of these people left searching for a roommate to cover both costs and companionship.

“They are seeking roommates, which is interesting. There’s another article from AARP that said old people, specifically old men, are very lonely,” Jake said. “Maybe this man didn’t stock money away. I mean, these are all things that you don’t want to catch up with you by the time you get into your 70s.”

Spike explained that the 72-year-old man was recently divorced, and that such an unanticipated event can throw a wrench into a person’s plans as a “dramatic change.”

“You may have built a life, but then when you get divorced, you’ve got half a life left,” Spike said. “Oftentimes, the nest egg you built gets cracked in half, and you’ve got egg on your face. You don’t plan on having these dramatic changes later in life. The fact that you built a life, bought a house, or rented in the area, had a career, and now this guy has to move out of LA. Couldn’t afford it anymore.”

“These are life choices, man, LA is the most expensive city in the world to live in,” Jake responded. “I’ll tell you where to go. You want a nice, sweet little life? You get yourself over to Idaho, where they filmed Dante’s Peak. Go to Wallace, Idaho. This guy is still trying to keep up with the Joneses; that’s the problem. He’s trying to live in an area that’s too expensive.”

Watch the full discussion in the video above.

Listen to “The Jake and Spike Show” weekdays from noon to 3 p.m. on KIRO Newsradio 97.3 FM. Subscribe to the podcast here.