The New York Times ran an article recently titled, “Unable to Sell Homes, Elderly Forgo Move to Assisted Living“, that discussed how the housing crisis is keeping thousands of seniors from moving into retirement communities as they are unable to sells their homes or spend some of the large entrance fees to move into some of the nicer assisted living facilities and retirement centers. The article discusses how the waiting lists that were once long after the initial announcement of the centers/communities have dwindled and some have immediate space available. Some of this lack of movement has spurred growth in adult day care services but until the credit markets get better and allow for more individuals to buy and sell, this trend will only continue to get worse.
Occupancy concerns are falling as attention to middle market senior housing rises, and M&A activity continues across the sector. Those are just some of the insights coming from leaders in the world of senior housing on the dawn of this new decade.
According to the results of our annual Senior Housing News outlook survey, this combination of factors is expected to drive executive decisions within the industry in the year ahead.
This report reveals the depth of senior housing’s interest in active adult, the execution of the product and how these factors are re-writing the care continuum.
After a decade of whispers, trials, pilots and promise, virtual reality now seems on the precipice of a boom in senior housing and senior care settings.