Don’t Get Left In The Cold In The Oncoming Housing Shortage
America is facing many challenges in the years ahead. Between climate change, the economic recessions, and security threats from abroad and within, there are many obstacles to overcome as America enters the 21st century. One problem that rarely breaks headlines is the oncoming age crisis.
You read correctly: oncoming age crisis. America, like other nations including Japan and China, is facing an aging population. In 2015, there are over 40 million people in the United States who are aged 65 or older, but this number is expected to reach over 89 million by the year 2050. Couple that statistic with the fact that nearly 7 out of 10 Americans over age 65 will need long-term care, and you’ll see why America’s aging population could result in a population crisis at worst, and at best a housing shortage.
America has some of the best senior care services of any developed nation. According to a recent poll, 89.3% of independent senior housing residents rate their overall satisfaction as good or excellent, while 84.5% would recommend their community to someone else. While the quality of the care is excellent, the quantity of available senior housing options is not, particularly affordable ones. According to statistics recorded by the National Investment Center for the Seniors Housing and Care Industry, the average occupancy rate for senior citizen housing properties was 88.1% during 2011. That means of all the low cost senior housing in America, only 1 in 5 has vacancy. Nursing homes and assisted living homes are filling up at an ever-increasing rate. If you have parents or other family members who are aging, or are aging yourself, now is the time to look into or invest in low cost senior housing.
Due to our state of the art medical care system, Americans are living longer lives than ever before. In 1960, a person who reached the age of 65 could expect to live 4 more years on average; today, that same person can expect to live an average of 18.5 more years! On it’s own, that statistic should be expected to be a positive one; however, with the recent economic downturn, America’s increased life expectancy means there is a stronger-than-ever need for low cost senior housing. Don’t wait until it’s too late! It’s never too early to begin researching your or your family’s senior housing options.
