Seniors’ Housing Legal News Alert - July 2009

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The Industry Today

It seems as if the economy has bottomed out and the “recession” or whatever you want to call our economic situation over the past 2 years may soon be behind us. But we will probably be faced with slow growth over the next few years instead of a quick turnaround. Hotels, hospitals, developers, office buildings, and the retail sector are not performing as well as seniors’ housing right now, which itself has been affected mostly in the form of lower occupancy numbers, but it looks like consumer confidence, rising unemployment and the housing market may finally be stabilizing. Occupancies across the seniors’ housing sectors are converging in the low 90 percent range, which is an indication that demand may be starting to stabilize and the market is positioned for a recovery. And the long-term good news for our industry is that the world’s 65-and-older population will triple by mid-century to one in six people, according to U.S. Census Bureau estimates.

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