Senior Housing Grows Nicer and More Available
Special thanks to ProAging Subscriber Brent Derobertis for forwarding this article
The market for senior housing is growing, according to the National Investment Conference for the Senior Living and Long Term Care Industries, which provides information to lenders, investors, and others interested in financial issues related to senior housing.
NIC says the demand for senior housing will double and the amount of capital invested will rise to $490 billion by 2030.
The typical 80- to 85-year-old senior who is the likely customer for senior housing owns his or her own home outright and can afford to demand quality accommodations, says Michael Hargrave, director of sales and marketing for NIC.
Hargrave adds that luxury at the high end of the market will improve housing for less affluent seniors. “As innovative, luxury, high-end projects go up, other developers marketing more to the middle class are also forced to build nice communities that are affordable to people on Social Security and a pension,” he says.
Source: The Miami Herald, Elaine De Valle (07/23/06)