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Topic- Construction
Stats: Seniors housing occupancy averages 84.9% in Q2
How has COVID-19 affected seniors housing? The latest NIC MAP data shows that occupancy averaged 84.9%, down 280 basis points from Q1. Other insights to guide planning and potential opportunities:
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How much seniors housing will be needed going forward?
NIC has uncovered some complex interactions between occupancy and rent growth in assisted living property markets, with implications for evaluating the attractiveness of a market for seniors housing investment or development. Its latest report investigates a four-year window - from 3Q 2015 through 3Q 2019 - in 31 primary markets, both in aggregate and individually. It delves deeply into factors affecting both strong performance and deceleration and provides useful insights for organizations considering expanding, consolidating, merging, etc. The freely available white paper highlights key trends.
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Boomer homes to flood US market in 2020s, 2030s
A flood of homes will come on the market in the next 20 years as Boomers age - enough to affect local economies in traditional retirement areas, according to real estate/rental company Zillow. Currently, about a third of US homes are owned by people 60 and older, and more than 27% will become available by 2037 as owners pass away. Specifically, from 2007 to 2017, roughly 730,000 US Boomer homes were released into the market annually. That number is set to rise to 920,000 per year from 2017 to 2027, and to 1.17 million per year from 2027-2037.
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Assisted living occupancy up, construction down: NIC
Of interest to many active-aging industry stakeholders, third-quarter 2019 data from the National Investment Center for Seniors Housing and Care (NIC) show that senior housing occupancy increased to 88%, up from its lowest level in eight years (87.7%) recorded during the previous quarter. Against this backdrop, assisted living occupancy increased to 85.4% from a previous record low of 85.1% for the past three quarters, as relatively robust demand outpaced new inventory growth.
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Boomers, millennials want better health communication
In 2019, millennials are expected to surpass boomers as the largest adult generation in the US. But a new white paper shows that both generations share similar healthcare communication preferences.
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Office levels of CO2 harm cognition, productivity
New UK research shows high carbon dioxide (CO2) levels in offices are decreasing workers' cognitive abilities.
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