Although 2020 has led to record-setting occupancy drops in independent and assisted living facilities, the National Investment Center for Seniors Housing & Care argued that there may be a “silver lining” after all. NIC Chief Economist Beth Burnham Mace suggested that “some of those low occupancy rates of today will benefit from the slow-down in construction starts presently and should benefit from pent-up demand and greater demand projections” for “need-based segments of seniors housing” in particular.
Mace continued to explain that the pent-up demand will align with construction of new, better facilities that will be better prepared to take care of seniors. At the same time, information on COVID-19 only increases, and facilities will be better prepared to face the virus and secure trust in long-term care facilities.
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