Senior housing poised for growth, NIC president says

Even though the economy is struggling, the senior housing sector has plenty of good days ahead, according to National Investment Center for the Seniors Housing & Care Industry President Robert G. Kramer.

Kramer told McKnight's Editorial Director John O'Connor in a recorded interview that future demand for senior housing would help the sector overcome economic challenges.

“I think the very fact of having our largest attendance ever is testimony to the fact that people, even when they realize the economy is struggling, they see great opportunities and great growth ahead for the senior housing and care sector,” Kramer said.

He acknowledged that pending Medicare cuts present a challenge, particularly on the skilled nursing side of the market.

“That just means that there will be a lot of focus on how we make adjustments,” Kramer said. “This is an industry poised for growth, [one] that has the immutable drivers of population and demand.”

Operators can also take comfort in how well the senior housing market has weathered the recession thus far, as well as the opportunities involved in taking care of a new generation over the next 10 to 20 years, he added.

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