As Baby Boomers begin to reach into and past retirement, the country is entering a 20 or more year surge in its aging population. That means the real estate market is at a critical juncture when it comes to affordable, accessible housing, not to mention the increase in in-home care services that will also be needed in those homes.
Here are some important facts and figures:
Over the next 20 years, the population aged 65 and older is expected to increase from 48 million to 79 million.
By 2035, one in five people in the U.S. will be aged 65 and over. That’s up from one in seven today.
There are many home design features that help improve accessibility, allowing for those with disabilities much more independence in the home.
Unfortunately, only one percent of the current housing stock has all of the following accessibility features.
Zero-step entrances into the home.
Single-floor living.
Wide halls and doorways to accommodate a wheelchair.
Electrical controls reachable from a wheelchair.
Lever-style handles on faucets and doors.
There’s no doubt that as the population ages, these features will need to become much more commonplace. Improving current housing and providing new communities of accessible housing represents an area of growth for the real estate market, from investors and developers to builders and Realtors.
If you’re interested in buying or selling a Luxury Home in Los Angeles, please contact us now at 323-829-8811 or email Susan Andrews at susan@luxurylahomes.com.
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