|
|||||||
 |
|||||||
|
|||||||
|
Retirement Communities & Senior Housing |
Retirement Living News June 2005 HEADLINES
(Click
on headline to read story) Archive
of Past Issues
New Retirement Communities Many Changes Occurring in Active Adult Community Marketplace In the last 10 years the active adult building industry has experienced several significant changes, seen the emergence of new products, and benefited from exceptional growth. The changes have come about in both the size and type of communities being built, and their locations, according to William R. Parks, president of Parks Development Consulting in Scottsdale, Ariz. At the Building for Boomers & Beyond symposium last month, sponsored by the Seniors Housing Council of the National Association of Home Builders, Parks reported that site-built home communities comprised of single-family attached and detached homes remain the dominate product. He said there has been a decline in manufactured home communities but condos have become very popular in the mid-Atlantic states of Maryland and Virginia, particularly the Beltway area, and are beginning to increase in the New Jersey and New York markets. Other trends noted by Parks included the fact that the average community size and the average clubhouse size are declining. The rate of growth in golf course communities remains the same as it was 10 years ago. The number of communities with indoor pools is up slightly and gated communities are trending up at a strong pace. The location of communities has changed. The growth in Sun Belt communities, which Parks defines as 10 coastal states from Oregon to North Carolina plus Arizona, Nevada and New Mexico, has declined to where the overall growth average for the last 10 years is zero. Non-Sunbelt communities have increased at a rate of 16% per year and last year accounted for 74% of all communities built. In 1999 and 2000, the "close to home" community revolution began and that is now the prime focus of the active adult building industry. The size of communities is trending smaller. The average size of a community started in 1995 was 833 homes. It spiked to 1,874 homes in 1996, then started to decline at an average rate of 27%. In 2004, the average community size was 393 homes. Attesting to the rapid growth of this
industry, Parks reported that in 1995 there were 102 builders in the
active adult industry, with only 12% building more than one community.
In 2004, there were 377 builders -- a 270% increase - and the number
of multiple community builders had nearly doubled to 22%. Advertisement Caring For People From A Distance Today, it's commonplace for family
members to live in different parts of the country. This can create
challenges -- and sometimes a sense of guilt -- when a family member
needs care and assistance. Fortunately, the first step may be the
easiest, and the most valuable. Through Interim HomeStyle Services,
you can access a free online Independent Living Assessment that lets
you get involved and be informed about factors that limit a person's
ability to live safe and independently in the comfort of their home. http://www.homestyleservices.com/go.asp?id=H4G6A If you are thinking about retiring to a university-affiliated active adult community and have some ideas as to where you would like it to be and the amenities you would desire, then you may want to participate in a survey. Campus Continuum, based in Newton, Mass., is a company that focuses solely on developing, marketing, and operating university-branded retirement communities that are tightly integrated with their academic hosts. It is conducting an online survey of consumers asking them to indicate their top three colleges/universities as preferred retirement destinations. The survey also asks about their interest in specific physical and service amenities. The growing interest in life-long
learning on or near college campuses has prompted many people to
search out academic institutions where they can live and enjoy this
lifestyle. This type of living is particularly popular with older
alumni, faculty and staff. To participate in the survey, go to: http://campuscontinuum.com/survey.asp. Monster and AARP Announce Alliance to Help 50+ Workers Monster, the leading global online careers site and AARP have announced a strategic online recruiting alliance that will provide a comprehensive career channel for workers age 50 and over. Under the agreement, Monster will serve as the exclusive online job search provider for AARP and will help connect mature job seekers with jobs in their local region, as well as provide career resources specific to them. According to the Bureau of Labor Statistics, the number of workers age 50 and over is projected to increase by 34% from 2003 to 2012, a net increase of 12.5 million workers. During the same time period, the number of workers ages 16 - 49 will increase by only 3%, a net increase of only 2.7 million workers. Monster and AARP realize the importance and resulting impact of this workforce shift and will work together to help employers navigate the looming labor shortage. The jointly developed recruitment solution will include a variety of collaborative efforts, including a dedicated "50+ Worker Career Channel" and monthly e-newsletters to employers and 50+ job seekers. Monster will be featured on the AARP.org/Careers website. The AARP website will provide a link to the Monster website, which will offer an online job search function and opportunities to post resumes. Through the development of shared content, visitors to the AARP and Monster homepages will be able to research pertinent career information and search through thousands of job opportunities. "Our new relationship with Monster
will not only help AARP members who want to continue working or who
are trying to get back into the job market, it will also help
employers better understand and appreciate the value of older
workers," said Bill Novelli, CEO of AARP. "By linking with
the leading online careers service, we are providing our members with
access to employment opportunities from the largest multi-national
corporation to the smallest mom-and-pop store anywhere in the country.
Our goal is to be a catalyst for change in advocating for mature
workers. Linking with Monster takes us to a whole new level in
achieving that goal." Baby Boomers Seek More Activities and Amenities in their Retirement As Baby Boomers near retirement age, many say they anticipate leading active lifestyles well into their later years, according to the 2005 Del Webb Baby Boomer Survey. Approximately 50% of Boomers ages 50-59 plan to purchase new homes for their retirement, where they can enjoy lifestyles that allow them to remain physically fit and socially active. For some, remaining active may also include working beyond "retirement" age. "This is a generation that wants to continue to rock and roll, not sit around in rocking chairs," says Dave Schreiner, vice president of active adult business development for Pulte Homes (Del Webb is a brand of Pulte Homes). "Boomers have been buying homes in Del Webb active adult communities because they can find the amenities they want in order to remain active as they age." Pulte Homes, with its Del Webb brand, is the nation's leading developer of active adult communities for people age 55 and over. The first Del Webb survey of the Baby Boomer generation was conducted in 1996. This year's study was again conducted by Harris Interactive on behalf of Pulte Homes to understand Boomers' opinions of the issues they will be facing in the near future, their thoughts on active adult communities, home features, lifestyle, dating, friendships and more. With America's population of 55-to-75 year-olds estimated to reach 80 million-plus by 2020, the active adult market represents one of the fastest-growing segments in the housing industry. The U.S. Census Bureau predicts that 26 states will double their populations of people older than 65 by 2030. Data for the Del Webb Baby Boomer survey was analyzed by various age subgroups to see if there were any differences in opinion among various age groups including younger (age 41-49) and older (age 50-59) Boomers. The majority (59%) of younger Boomers indicated they intend to buy a new home for their retirement and remain within driving distance of family members. "Better lifestyle" factors include the ability to travel, spend more time with family/loved ones or enjoy a warmer climate. About half (45%) of all respondents who will move expect to move to another state, with Florida (14%), Arizona (12%), North Carolina (10%), California (8%), Texas (5%) and Nevada (5%) considered the most popular. Of those age 41-49 who plan to move, 27% said the maximum distance they would want to live from family would be one-to-three hours. Those age 50-59, the number was 23%. Of Boomers (ages 41-59) who plan to move and are interested in a new home at an active adult community, top amenities they desire include full maintenance, lawn care, walking trails, and access to swimming and water fitness programs. Education, social activities and security features are also important considerations for many. Over 60% said they would prefer a gated community or roving security. As for home features, younger Boomers were less likely to indicate a desire to downsize their retirement home. In terms of features, older respondents had a preference for more practical features, versus luxury amenities. Many respondents also want more than one bedroom that can be used for guests or as office space. Although most plan to fully retire, some will continue working because they enjoy it or want to remain active. The Harris survey was conducted online
between April 14-20, 2005, among 1,802 adults aged 41-69 who live in
10 different regions of the U.S.: the Northeast, Southeast, Florida,
Great Lakes, Texas, Rocky Mountains, Arizona, Nevada, Northern
California, and Southern California. Census Bureau Projects Population Growth to 2030 by State The U.S. Census Bureau recently released projections on the U.S. population by state for the year 2030 and the headlines were about which states are to grow the fastest. The real story, however, is the picture of the growth in senior citizens. Beginning in 2011, the population 65 and older will grow faster than the total population in every single state. This is the year when the first wave of the 76 million baby boomers turn 65. A total of 26 states are projected to double their 65-and-older population between 2000 and 2030. In 2000, each of the nation's 50 states had more people under 18 than 65 and older. In fact, in about half of the states, the ratio was more than two to one. In 2030, 10 states are projected to have more people 65 and older than under 18: Florida, Delaware, Maine, Montana, New Mexico, North Dakota, Pennsylvania, Vermont, West Virginia and Wyoming. In six states, more than one in every four residents would be age 65 and older in 2030: Florida, Wyoming, Maine, New Mexico, Montana and North Dakota. Three states - Florida, California and Texas - would account for nearly one-half (46 percent) of the total U.S. population growth between 2000 and 2030, according to the projections. Consequently, Florida, now the fourth most populous state, would edge past New York into third place in total population by 2011; California and Texas would continue to rank first and second, respectively, in 2030. Interestingly, these three states will also have the largest senior citizen populations by 2025. California will have 6,424,000 in 2025, while Texas will have 5,453,000 and Florida 4,364,000. These three states would each gain more than 12 million people between 2000 and 2030. Arizona, projected to add 5.6 million people, and North Carolina, with 4.2 million, would round out the top five numerical gainers. As a result, Arizona and North Carolina would move into the top 10 in total population by 2030 - Arizona rising from 20th place in 2000 to 10th place in 2030 and North Carolina from 11th place to seventh place. Michigan and New Jersey are projected to drop out of the top 10.) The projections indicate that the top five fastest-growing states between 2000 and 2030 would be Nevada (114%), Arizona (109%), Florida (80%), Texas (60 %) and Utah (56%). Most (88%) of the nation's population growth between 2000 and 2030 would occur in the South and West, which would be home to the 10 fastest-growing states over the period. The share of the population living in the South and West would increase from 58% in 2000 to 65 percent in 2030, while the share in the Northeast and Midwest would decline from 42 percent to 35%. These projections were produced by the
Census Bureau's Population Division and are based on the Census 2000
results. Projections differ from forecasts in that they represent the
results of the mathematical projection model given that current
state-specific trends in fertility, mortality, internal migration and
international migration continue. Kiplinger's Personal Finance Publishes Special Retirement Planning Issue Whether you are ready to begin
retirement or are just thinking about it, you'll find the annual
Retirement Planning issue of Kipliner's Personal Finance to be
quite helpful. Available only on newsstands or book stores during the
next four months, it provides a worksheet to put a price on your
retirement dreams, advice on IRAs, 401(k)s and tax shelters, names of
the best mutual funds for retirement savings, and how rising home
values can play a major role in financing your retirement. It also
contains an important article on long term care insurance and reviews
of 15 great places to retire. This issue can be ordered online at: https://www.kiplinger.com/annuals/retire.html Consumer Reports and Business Week Articles Focus on Assisted Living The July issue of Consumer Reports provides details about assisted living and reports on the wide variety of settings, typical costs, resident health, and tips for finding a community. BusinessWeek Online also reports on assisted living in an article titled "A Careful Checkup for Assisted Living." While the BusinessWeek article presents a more favorable picture of assisted living, both the Consumer Reports and BusinessWeek coverage indicate that many consumers still don't know the right questions to ask when seeking a community for themselves or a loved one. Assisted living is regulated in every state in the country and does not subscribe to a one-size-fits-all regulatory approach. It is that diversity that creates a choice for seniors that offers both independence and care, said Richard Grimes, president and CEO of the Assisted Living Federation of America (ALFA) Grimes addressed this issue with Consumer Reports. Commenting on resident frailty and the ability of assisted living providers to meet this need, he said: "As our residents grow older, many want to stay in assisted living and avoid nursing homes, so our providers try to accommodate them. Our hallmark is flexibility." The Consumer Reports researchers, disguised as family caregivers, contacted several assisted living companies asking that contracts, discharge information, detailed cost data, staff training and staffing levels, and details on who administers medications be sent to them. None of the companies sent all of the information that was requested. "We wouldn't expect our members to send out a contract, for example, in response to a blind call," says Grimes. "Many of these details need to be explained and discussed in person to ensure consumers understand the information." Consumer
Reports article: |
||||||
