The Baby Boomer generation will soon be moving into senior housing in force. And, may start proving that today's stock isn't the right fit. Here, a Forbes article reviews what the new design thinking will look like to meet this generation's demands.
Boomers are known for being a generation of influencers, rebels and change leaders. Now, they’re in a position to force a dismantling of the old models of senior housing. And, based on a panel I recently attended at the Washington Innovation in Longevity Summit, senior housing developers had better get to it soon. By 2030, all boomers will be over 65.
“Things are clearly not that good in the market,” said John Yedinak, the panel moderator, who is president and co-founder of Aging Media Network.
Senior housing occupancy rates dropped below 88% in the second quarter of this year, according to the National Investment Center for Seniors Housing and Care (NIC). That rate “has trended downward over the past 10 quarters, which is only two quarters short of its 12-quarter downturn during the Great Recession,” said Chuck Harry, NIC’s chief of Research & Analytics.Read More