THE BIG PICTURE
TRENDS & ISSUES
Senior Housing as an Emerging Asset BABY BOOMERS’ EVOLVING HOUSING NEEDS PRESENT OPPORTUNITIES FOR INVESTORS.
and living longer, and their increased life expectancy means less turnover in the marketplace. It’s going to be a booming market, no pun intended,” says Rick Sharga, chief marketing officer of Ten-X (formerly Auction.com), an online marketplace for residential and commercial properties. Sharga adds that investors who get in now have an incredible opportunity to learn the nuances of senior housing and establish themselves before the market feels the full force of the Boomer generation’s impact. UNDERSTANDING SENIOR HOUSING Until recently, seniors had few housing options. They could downsize, moving into an active adult community for people 55 and over. Or they could cohabitate with a relative, usually one of their grown children. The final option was a nursing home. Today, senior housing options include: > Stand-alone properties: These small single-family residences, apartments or condos may be equipped with
by Teresa Bitler
and more, they are opting to rent rather than own. Eventually, some may need to transition to an assisted living or skilled nursing care facility. Across the board, what- ever housing type, there’s not enough supply to meet anticipated demand. But, aging Baby Boomers aren’t the only factor contributing to the increased demand, according to the National Investment Center for Seniors Housing & Care. Seniors are healthier
he senior population in the United States is skyrocketing. By 2030, one in five Americans will be age 65 or older, according to the U.S. Census Bureau, up from one in seven today. As the general population ages, housing needs will also shift. People in their 60s, 70s and beyond usually don’t need—or want— large yards or McMansions, often opting for smaller homes or condos in communities with neighbors their own age. And more T
12 | think realty magazine | mar :: apr 2016
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