As the snow started to fall here in Chicago, we kept readers toasty with the latest industry news, including insight from some of the largest financial players in the industry on what 2017 will bring, as well as how the incoming Trump administration could slow overbuilding.
Here in the newsroom, we called out the elephant in the room: marijuana. We also embraced the fact that nobody is ever too old for an old fashioned beauty pageant.
Overbuilding in Senior Housing Could Ease Under Trump—A report released last week shed some light on the possibility of overbuilding slowing down under the Trump administration. Many factors could cause a slow down, but deregulation and lower taxes promised by Trump could be a contributor.
Major CCRC Provider Launches Tech Makeover To Attract Boomers— Senior living providers are feeling to pressure to keep up with the tech-savvy baby boomers who will soon be the majority of residents in communities. One continuing care retirement community (CCRC) is taking that fact seriously and has started a tech overhaul that will include technology-connected apartments, resident communication apps, and much more, with the hope of standing out among its competitors.
Why Senior Living Still Struggles with Digital Marketing— Senior living marketers don’t seem to be interested in using the multitude of digital marketing options that many other industries have tapped into in recent years. A new survey of executives in the industry unveiled why exactly that is and what senior living execs think is the best method of digital marketing.
Could 2017 Bring ‘Knee-Shaking’ Senior Housing M&A Prices?—A panel of experts spoke on a Senior Housing News Finance and Investment Outlook webinar last week and had some predictions as to what may happen in terms of pricing, transaction volume and financing in the new year. Some of the panelists included Beth Mace from the National Investment Center for Seniors Housing and Care (NIC) and Justin Hutchens from HCP, Inc. (NYSE: HCP).
Editor’s Take: It’s 4:20 Somewhere, But Senior Living Won’t Talk About It—With the recent legalization of medical and recreational marijuana use in a number of states in the country, we found that senior living providers refuse to talk about it. And we’re wondering, “Why not?” A study done by the Centers for Disease Control and Prevention (CDC) found that the number of retirement-age Americans using marijuana grew 333% in 12 years—something worth talking about.
Pageant Glamour for Those Who Have Reached the Age of Elegance— Whoever said anyone is too old for a beauty pageant? Women between the ages of 62 and 91 gathered at an Atlantic City casino for the Ms. Senior America Pageant and showed that age is just a number, The New York Times reported. “Contestants were judged on talent, a private interview with the judges, an evening gown component and a segment in which they must summarize their philosophy of life in 35 seconds,” the article said. For many of the women in the pageant, it wasn’t about winning, it was about healing, self-expression and some good ole’ fun.
Women Face 20% Higher Health Care Costs In Retirement, Survey Finds—In a report released last week, women were found to pay more for health care in retirement. Longevity is to blame, The Wall Street Journal reported. Women live longer than men by about two years, on average, so women should set aside almost 20% more to cover their medical bills later in life. This year, a 65-year-old retired woman will spend more than $235,000 on health care premiums over her remaining life expectancy, but for men the projected cost is about $200,000, according to the report.
Life Inside The Alzheimer’s Ward: A Hidden World Revealed—Swedish photographer Maja Daniels was awarded a grant for visual storytelling about Alzheimer’s disease and dementia from her latest project set in an Alzheimer’s ward in a geriatric hospital in France, according to NPR. The grant fund was started by National Geographic’s Gina Martin whose mother passed away from Alzheimer’s in 2011. Daniels now plans to integrate the work from the Alzheimer’s ward into a larger project on aging, the article reported.
Written by Alana Stramowski