America's population of seniors is experiencing extraordinary growth, but the country is grossly unprepared to meet the changing housing needs of the aging demographic, according to a sobering new report.

Released by the Harvard Joint Center for Housing Studies and AARP Foundation, the research asserts that, while the number of adults in the United States aged 50 and over is on a trajectory to reach upwards of 133 million by 2030, marking an increase of more than 70 percent since 2000, the supply of housing that is affordable, physically accessible, well-located, and coordinated with supports and services is inadequate.

The report, "Housing America's Older Adults-Meeting the Needs of An Aging Population," notes that housing is imperative to maintaining quality of life for those of all ages, but especially for older adults, whose physical and mental abilities can change dramatically in short amounts of time.

"Recognizing the implications of this profound demographic shift and taking immediate steps to address these issues is vital to our national standard of living," Chris Herbert, acting managing director of the Harvard Joint Center for Housing Studies, said in a news release. "While it is ultimately up to individuals and their families to plan for future housing needs, it is also incumbent upon policy makers at all levels of government to see that affordable, appropriate housing, as well as supports for long-term aging in the community, are available for older adults across the income spectrum."

The report asserts high housing costs currently require a third of adults 50 and over -- which includes 37 percent of those who are 80 and over -- to spend more than 30 percent of their income for homes that may no longer be fitting their needs.

As a result, many seniors -- facing such high living costs -- are forced to cut back on food, health care, and, for the younger one of the group who are still working, retirement savings.

Meanwhile, much of the nation's housing inventory lacks basic accessibility features -- including no-step entries, extra-wide doorways, and lever-style door and faucet handles -- that would allow older people with disabilities to function much more safely and comfortably in their homes.

Equally important, even though a majority of aged adults reside in car-dependent suburban and rural areas, the country's transportation and pedestrian infrastructure is ill-suited to those who aren't able to drive.

Then, of particular concern, the report said, are the younger baby boomers who are now in their 50s and generally have lower incomes, wealth and home ownership rates, but more debt than generations before them.

All that leads to the conclusion that, "while a majority of people over 45 would like to stay in their current residences as long as possible, estimates indicate that 70 percent of those who reach the age of 65 will eventually need some form of long-term care. In this regard, older homeowners are in a better position than older renters when they retire," the news release said. "The typical homeowner age 65 and over has enough wealth to cover the costs of in-home assistance for nearly nine years, or assisted living for 6 and half years. The typical renter, however, can only afford two months of these supports."

Considering all of the report's findings together, it's imperative that the people of the U.S. explore new ways to support seniors, "to provide the tools and resources to help them meet these needs now and in the future," said Lisa Marsh Ryerson, president of the AARP Foundation.

"High housing costs, aging homes and costly repairs can greatly impact those with limited incomes," she said. "As Americans age, the need for safe and affordable housing options becomes even more critical."