The Housing Boondoggle: How America's Retirees Are Bankrolling the Banks The latest data from the Federal Reserve's Consumer Expenditure Survey (CES) paints a stark picture of the financial struggles facing America's retirees.
On average, a typical retiree spent nearly $59,616 in 2024 – roughly $5,000 per month. Housing costs alone account for almost 37% of this total, or one dollar out of every three.
This staggering figure raises important questions about the priorities of America's retirement policy and its impact on ordinary citizens.