Silver Tsunami Of Seniors Changing Approach To Housing And Healthcare

Silver Tsunami Of Seniors Changing Approach To Housing And Healthcare

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With an aging generation of Baby Boomers, we're seeing the dawn of the "silver tsunami" (a term coined by Cunningham Group principal, Lee Brennan). The U.S. Census Bureau projects that, in 2035, senior citizens will outnumber our nation's youth. They expect people age 65 and over to reach 78 million while those age 18 and younger will only reach 76.4 million.

What does this mean for the housing industry? The generation of Baby Boomers aren't going to be the type of senior citizens living on a golf course and playing bridge. This wave of seniors will want to stay in the same community they've always been in. They want to be a part of the community and stay close to their children and grandchildren and the market is going to have to prepare for that.

One of the ways we see communities already doing this is by creating multi-generational developments with more senior housing in cities. In fact, FivePoint communities is already planning for this with some of its Irvine developments. Even in the single family residential market, we see this more and more everyday with younger generations planning to house their parents. A growing number of buyers are looking for single-level homes or at least a main-level bedroom and bath.

With innovative housing plans also comes the need for easier access to healthcare services. Bisnow's recent healthcare convention was attended by 360 healthcare and real estate professionals to discuss the impact of senior living trends and innovation in hospitals. Some of the many ways in which healthcare companies are attempting to meet the imminent demand for more ambulatory services is by providing more of them in retail strips and partnering with ride share companies.Dynamic Health's Senior VP, Jeff Land, said that they have been successful in creating these strategic partnerships over the last 20 years and are continuing to do so now with a few new multiple joint ventures with Lyft, Airstrip, IBM Watson, and others.

Liz Peters Headshot
Phone: 949-683-5374
Dated: June 11th 2018
Views: 504
About Liz: An Orange County native and Team Manager of The Kurt Real Estate Group with a heavy background in bo...

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