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The Next Housing Boom is Here
Almost 80 million Baby Boomers are heading toward retirement and will be traveling, socializing, enjoying sports, culture, music, and a host of other activites. Boomers are about the largest demographic change America has ever seen. This group has the will and the vast numbers to change the nation's idea of the meaning of "senior life." The seniors housing industry's major trade group warns of a likely shortage of long-term care properties. The NIC for Seniors Housing & Care stated investor estimates are too low for the number of long-term care properties that will be neccessary for this wave of retiring Boomers. For property investors, this means increased demand for assisted-living and skilled-nursing properties. The first wave of Boomers hit in 2006 at the age of 60. Now, an estimated 8000 per day are hitting retirement, which will produce 34-35 million retirees by 2009. The high numbers are creating a "Gray Wave" that is sweeping across America, making immense changes in consumer and lifestyle choices. One big change happening now is where and how retiring Boomers plan to spend retirement. Who wants to give up secure surroundings and move when at the period in life when moving is difficult? Many Boomers are looking for alternatives that allow them to stay in familiar surroundings while dodging stresses involved in a move to a retirement facility. The concept of a purposeful approach to growing old in one place is tagged as "aging in place." A better concept, and one more in keeping with Boomer's retirement ethos, is "Forward LivingTM," creating an environment with adaptive technologies for living in comfort, living independently, and living safely while aging, all the while staying at home and not having to move. Concomitantly with living longer at home and staying more productive than previous generations, there is a pending shortage in quality retirement facilities. Present research identifies a critical and growing shortage in retirement and care facilities; there is no long-term forecast for how these shortages will effect Boomers. Living at home is, more often than not, the best and most peaceful way to grow old. The Christian Science Monitor recently stated seniors spend close to $2 trillion--a very large percentage of US economic activity, and it will only increase. Investments in Senior Housing may be an excellent method to ensure your parents or you and your loved ones ride peacefully into the sunset. |
Taunya's Active Rain Real estate Blog
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