8 Comments

No Boomer Business Boost for Senior Living?

By Michelle Seitzer / Posted on 10 May 2012

We hear about boomers and the aging population all the time, but did you know that their dramatic rise in numbers won’t do much in terms of fueling growth in the senior living industry?

That’s what this new article from SeniorHousingNews.com says, and you can blame our old friends, the economy and the real estate market, for the fact.

Unless they’re the planning type, per the piece. According to Ken Curnes, a top executive at advertising & marketing firm GlynnDevins, “The best prospects for a senior living community tend to be planners, those that have always hedged their bets by making good fiscal choices.”

As most in the baby boomer crowd are currently watching the value of their homes drop and are preoccupied with figuring out what to do with Mom & Dad, it makes sense that senior housing providers should not expect an influx of boomers in the next few years. The article purports that it’s actually closer to 20 years before the first of the boomers move in.

In the meantime, perhaps providers should reach out to boomers who are touring senior living communities with their parents. Offering programs, services and resources about long term care planning tailored to boomers may put the industry in a better light. More senior living companies are getting helping seniors sell homes, as we covered in another post this week, which may also stimulate growth. Only time will tell…

 

There are 8 Comments about this post

  1. Amy Trenton says,

    Interesting. I have a few friends that are heavily invested in this industry and are banking on the increase. Passing this info along to them….

     

    on 10 May 2012 / 7:36 PM

     
  2. I agre — definitely interesting and surprising. However, I think it’s difficult to know just exactly how things will turn out. Good to be prepared either way. Thanks for your comment!

     

    on 11 May 2012 / 9:50 AM

     
  3. I agree with Michelle Seitzer’s comment. I think it is too early to tell for sure how this will turn out. 20 years? I doubt that it will be that long – maybe 10… but as Michelle noted, definitely good to be prepared either way!

     

    on 11 May 2012 / 6:09 PM

     
  4. Michael, thanks for your comment! Yes, I think it pays to be prepared either way, and it’s important not to bank on just one possible outcome.
    Appreciate you sharing your thoughts and visiting the blog!

     

    on 13 May 2012 / 4:38 PM

     
  5. Dawn Grafton says,

    Looks like seniors will be staying in there homes longer. Good idea to get prepared!

     

    on 27 May 2012 / 2:37 PM

     
  6. Probably so! Yes, always good to be prepared.

     

    on 28 May 2012 / 12:18 PM

     
  7. I definitely am curious about how this will turn out and what the outcome will be. I’m leaning toward 10 years as well. Kind of scary…

     

    on 18 January 2013 / 12:44 AM

     
  8. Thanks for your comment, Alex. We’ll see what happens; maybe something positive for the industry will come of it? We can hope for the best!

     

    on 18 January 2013 / 11:29 AM

     
 

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