Senior Housing News May 23, 2024
The industry has seen a low number of new construction starts in the last couple of years. While that has been a boon for short-term occupancy rates, long-term it could present a problem.
In 2024, there are many old and aging senior living communities on the market that will need to be upgraded or taken off the market in the coming years. At the same time, demand for senior living is growing as the incoming baby boomer generation continues to age. With a current lower rate of new construction and development, the industry could fall short of that demand in the future.
The trend of lower supply and higher demand is expected to last for at least a couple years,...
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