The Senior Housing Industry Chaos Continues
Perhaps you’ve read some recently published articles regarding the financial woes at publicly traded Brookdale Senior Living, or perhaps you have a senior housing community near your home whose name has changed multiple times over the past few years. The current chaotic state of senior housing seems contrary to the news stories and articles about how America is aging. America is aging – we are all aging -- but we aren’t old enough, yet, to meet the current supply of senior housing in greater Milwaukee.
A quick glance at the United States Census Bureau information on birth rates shows that the industry is currently operating in what was always predicted as the lowest demand for senior housing. The average age of someone who lives in a Laureate Group senior community is 87 – born in 1933. The table shows that the birth rate was at a very low point between 1930 and 1940. While the current interest rate environment has successfully enticed providers to build retirement communities in these favorable lending times, the supply has outpaced demand. This has left inexperienced providers in a state of flux and chaos.
Experience matters. Retirement communities operate best when occupancy is strong, the staff is stable and the problem solving is local. It takes a company with experience to accomplish that. For over 40 years Laureate Group has been a trusted, local, family-owned provider of senior housing and services. Over the years, Laureate Group has helped thousands of older adults and their families manage the challenges of aging.
Finding a quality senior living community for your loved one can be difficult. But when you choose a Laureate Group Senior Community, you can have the confidence that your loved one is in good hands. For more information about Laureate Group, click here.