{"id":2403,"date":"2020-07-06T03:42:16","date_gmt":"2020-07-06T03:42:16","guid":{"rendered":"https:\/\/housingmarketgroup.com\/?p=2403"},"modified":"2020-07-06T03:42:16","modified_gmt":"2020-07-06T03:42:16","slug":"few-real-estate-pros-believe-senior-housing-has-hit-covid-19-bottom","status":"publish","type":"post","link":"https:\/\/housingmarkethub.com\/is\/few-real-estate-pros-believe-senior-housing-has-hit-covid-19-bottom\/","title":{"rendered":"Few Real Estate Pros Believe Senior Housing Has Hit Covid-19 Bottom"},"content":{"rendered":"\n

Many developers, builders and other real estate professionals believe that senior housing has not yet hit a bottom due to Covid-19.<\/p>\n\n\n\n

That\u2019s according to findings from the mid-year market sentiment survey from RCLCO Real Estate Advisors.<\/p>\n\n\n\n

About 22% of respondents said that they believe senior housing \u2014 including independent living, assisted living and memory care \u2014 is currently in an \u201cearly downturn\u201d phase, and 12.5% said they think the sector is in \u201cfull downturn.\u201d Only about 8.5% said that senior housing has hit a bottom.<\/p>\n\n\n\n

These numbers put senior housing in the same category as other sectors that have been hard-hit by Covid-19, including retail and hospitality.<\/p>\n\n\n\n

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Source: RCLCO<\/figcaption><\/figure>\n\n\n\n

And when it comes to making predictions about where senior housing will be in 12 months, uncertainty is prevalent. About a third of respondents said \u201cI don\u2019t know\u201d in response to this question, RCLCO Managing Director Brad Hunter told Senior Housing News.<\/p>\n\n\n\n

That\u2019s a significantly higher percentage of \u201cI don\u2019t know\u201d responses compared to other types of real estate. The path appears clearer for retail, office, hospitality, residential and industrial, Hunter noted.<\/p>\n\n\n\n

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Source: RCLCO<\/figcaption><\/figure>\n\n\n\n

The high degree of uncertainty relates to various factors, in Hunter\u2019s view. For one, consumers face a \u201cpsychological quandary\u201d as they weigh their potential need for services and socialization against their fear of contagion in these communities. Meanwhile, developers are in the process of rethinking the design and layouts of properties \u2014 for example, considering creating smaller clusters of units or \u201cvillage\u201d type of models to allow smaller groups of people to congregate.<\/p>\n\n\n\n

While these questions will only be answered in time, RCLCO\u2019s view is that senior housing will rebound.<\/p>\n\n\n\n

\u201cWe think this is a needs-based use for real estate, so we think the market will come back,\u201d Hunter said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many developers, builders and other real estate professionals believe that senior housing has not yet hit a bottom due to Covid-19. That\u2019s according to findings from the mid-year market sentiment survey from RCLCO Real Estate Advisors. About 22% of respondents said that they believe senior housing \u2014 including independent living, assisted living and memory care […]<\/p>\n","protected":false},"author":3,"featured_media":2412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[62,216,88,25],"class_list":["post-2403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-market","tag-covid-19","tag-developer","tag-housing","tag-real-estate"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t