Final answer:
The elderly population spends money on housing and other capitally financed purchases, resulting in increased demand for housing and elder care facilities. These changes in demographics will impact the standard of living for both the young and old.
Step-by-step explanation:
In the context of changing global demographics, elderly populations spend money on housing and other capitally financed purchases. As the elderly population increases, there is a higher demand for housing in warmer climates and a shift in the need for elder care and assisted living facilities. Additionally, there may be a growing awareness of elder abuse. These changes in demand for housing and other goods will have an impact on the standard of living for both the young and old.