Mature Market Experts Stat of The Day: Retirement Communities and Assisted Living Occupancy Rates

j0216051 mature market

How badly is the current housing market hurting the mature market’s opportunity to move into a retirement community, assisted living, or nursing care? According to a New York Times article, “Across the country, occupancy rates for independent and assisted-living facilities have fallen slightly in the last year, by about 2 percent through the middle of 2008, according to the National Investment Center for the Seniors Housing and Care Industry.

But the problem is playing out acutely in hard-hit areas like Florida, where the vacancy rate at some facilities is up 20 percent to 30 percent over last year, said Paul Williams, director of government relations for the Assisted Living Federation of America. At Luther Manor, a retiree community in Milwaukee, the number of residents moving into independent living has dropped 20 percent this year. In southern Ohio, 65 percent of the people who visited the Bristol Village retirement community this year said they could not buy a unit because their homes were still hanging around their necks.”

Source: NY Times

How are people responding? Boomers and mature market are looking at  products that can help them stay in their homes (video: The Today Show) . . . and for people in need of assisted living and nursing care, adult day care is rapidly becoming the stop gap answer. If only companies understood how to market these products . . . they would be selling the heck out of them.

 

 

 

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