Retirees and Longtime Homeowners Relying on Social Security Opt to Rent Amid Rising Housing Costs and Societal Shifts

An increasing number of Americans, particularly those in the later stages of life, are opting to rent rather than own homes, a trend influenced by rising housing costs that are pricing many out of homeownership. This shift is evident among retirees and older adults, some of whom rely on Social Security and have substantial savings but still face uncertainty about whether to buy property or continue renting. The trend reflects broader economic pressures and has potential long-term implications for society and housing markets.