The Industry Today
The U.S. economy is barely purring, in a credit crunch, undergoing economic contraction, and continues to shed jobs. Notwithstanding all of the “pessimism porn” – titillatingly bleak media reports on the state of the economic collapse, much like my opening sentence above – prices of seniors’ housing facilities remained somewhat healthy in a terrible market environment. However, most people believe that the seniors’ housing market will continue to stumble through 2009 much like it did in 2008. Everyone with a stake in the business recognizes that we’re in a deep recession and that property values probably need to fall further to wring out the excesses of the last boom.
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