Amongst a breadth of engaging topics discussed throughout the episode, the conversation revolved around a new challenge that will face the housing market. Dave labels the challengers to the industry the Massive Middle.
10,000 new people in the United States turn 65 everyday. With medicine and science enhancing life expectancy, this generation will live longer than ever before. Longer lifespan will affect their decision as to where they will live in the later parts of their life. The Massive Middle generation is also the wealthiest, with billions of dollars in equity tied up in real estate, some assets of which that don’t have a mortgage.
In the conversation Dave talks about the Great Opportunity for the Massive Middle, and how they are primed to unlock wealth through liquidating the equity they have in their homes. This will create implications their housing choices, whether Active Adult/55+, senior living, and multifamily assisted care.
Dave sees an opportunity for the industry to create affordable, accessible, and high quality products for this generation. He predicts a shift in the accessibility of amenities and services to residents, calling it the Rise of Proximity - the reintegration of services closer to home, in this case within the community. Communities will now build acute care facilities within its plan to provide more accessible care to residents. Subtle yet impactful changes to the resident experience that Dave mentions in the episode include more places for residents to walk and recover in shade throughout popular walking trails.
Listen to the full episode to hear Dave and April talk more about the challenges the industry will face with the Massive Middle, the Rise of Proximity, and much more.
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