While the older adult population continues to be the fastest growing demographic, making up nearly 16% of the State’s population, the programs that support older New Yorkers remain chronically underfunded. Representative of this underfunding, last year the overall state budget grew by 3.1% in the Executive Budget, while the NYSOFA budget lagged behind overall growth, at 1.8%, despite the population it serves making up a larger and larger share of the overall population.
Testimony on Increasing Affordable Housing for Older New Yorkers and Improving Accessibility in the City’s Housing Stock
It is critical we address this crisis, as New York is aging rapidly and research shows that the majority of older adults would prefer the opportunity age in their community, surrounded by the networks of support built over a lifetime. Moreover, we’re all aging, and we all have a stake in ensuring there are affordable options to call home throughout the lifecourse.