As the boomers age, and look at alternatives for housing, many seem to be popping up.
There has been a lot of noise in the media about the hot new living arrangements for the elderly, or more specifically, the boomers who are soon to be the elderly.
Whether it is co-living arrangements in urban environments or Bill (Green House) Thomas’ new idea called a Minka tiny house, which is about 325 to 400 square feet and is modular, or the new active adult communities being developed as 100 to 200-unit apartment buildings for the pre-retirement housing crowd, all these concepts may be giving senior living providers the jitters. They shouldn’t.
As far as I can tell, these are all targeting a younger population than the traditional assisted living, independent living or CCRC model. And, it seems, a lower price point. It doesn’t mean there is anything wrong with these new ideas. And perhaps it is good timing because they fill a void that will only be growing as the boomers age.
But as all these new ideas come to fruition, some with more success than others, what it does mean is that the growth in demand for traditional seniors housing may not be as robust as some have been predicting. And that is where everyone has to be careful.
