Friday, January 4, 2008

Growth Industry next decade

The growth of high-rise assisted living buildings here in Seattle is startling. There is one gowing up in a rather dubious location on Denny with a rather steep walk to and from the local grocery, transit, etc.

So why are these popping up like giant mushrooms in the wet weather? Well, in looking at the statistics for population and aging, I see that the Baby Boomers are all aging rapidly and will be living in those assisted living communities in the next twenty years. According to the National Association of Area Agencies on Aging by 2030 approximately 20% of the population of the US will be over 60. That is a huge amount of population needing elderly care of some form.

With so many people moving from homes to assisted living, or moving in with the kids or grandkids to be taken care of, I think that the 2020's housing market will be an interesting slide. However, the rise of high-rise assisted care buildings in the 10's will be great.

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