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Market Trend Spotlight: Senior Living THIS SECTOR IS NOT NEW, BUT IT IS BREAKING NEW GROUND.
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Expertise contributed by: Doug Duncan, Fannie Mae; Harding Easley, Yardi Matrix; Gene Guarino, RAL Academy; Linda Liberatore, Secure Pay One; Stephen Rosenberg, Greystone & Co.; and JamieWooley, WStreets
any physical structure designed with a resident 55 years or older in mind. In order to really discuss the topic, we must establish some common terminology. You will see some of this terminology defined in association with our expert's commentary in this analysis. THE SENIOR LIVING SECTOR IS EXPANDING As you can see just from the plethora of terms in use today to talk about senior living, this sector is expanding. With Pew Research estimating 10,000 baby boomers will turn 65 each day until 2029, when about one in five U.S. residents will like- ly be an official senior citizen, the demand for senior living facilities with offerings across the spectrum will only grow. Check out what experts in all areas of the real estate industry are saying about this incredible, unstoppable trend.
lthough most baby boomers are still about a decade away from hitting the stage in their lives when they will be seriously considering their options in senior living, the real es- tate sector is getting ready now. From active adult communities to co-living spaces for seniors who need non-skilled care (not what it sounds like) to memory care and full-service skilled-care facilities, the housing and construction markets are evolving to meet the current and pending needs of the largest population of seniors ever to age into the demographic at one time. Clearly, senior living is a real estate topic worth talking about, but what does the term really mean? Once you push through the pro- motional verbiage, such as “Senior living is about LIVING! Healthy living, comfortable living enjoyable living like you will find at [insert development name here],” you will find that real estate investors and senior-living and -care providers use the term to describe pretty much
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