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Report: Are the Boomers Ready for Senior Housing?
By the time 2019 rolls into 2020, all of the baby boomers will be 55 years or older. Over the past several years, anticipated demand from this large and aging group has led to an increased supply for assisted living and independent living, as well as active adult and senior apartment communities. To explore the topic, Kroll Bond Rating Agency (KBRA) has released a new research report, ‘Are the Boomers Ready for Senior Housing?’
Findings of the research include a recent slowdown in construction due in part to demand factors, including a later-than-expected move-in age, delayed retirement, affordability, and even technological and social media advances.
By 2030, the number of Americans age 65 or older will grow to 73 million (15% of the U.S. population) and rise to 94 million (23% of the population) by 2060. Senior housing supply has been rising, due to anticipated demand from the group. According to the report, senior housing inventory is up more than 120,000 units since the start of 2015.
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