“We are not interested in the possibilities of defeat; they do not exist.” — Queen Victoria
Angela Gonzales Senior Reporter Phoenix Business Journal Jan 4, 2016, 2:13pm MST Updated Jan 5, 2016, 2:46pm MST
For the first time in modern history, the U.S. Census Bureau projects that until the mid-2030s, the number of people age 65 and over will far exceed the number entering the 15-64 working-age population.
By 2029, when all of the baby boomers will be 65 years and older, more than 20 percent of the total U.S. population will be over the age of 65, according to the U.S. Census Bureau.
This got Paul Johnson, founder of Phoenix-based Maps & Facts Unlimited Inc., thinking about what that means for the real estate industry in the Phoenix area.Click on the map above to see where boomers are congregating across the Valley.
“Continuing until 2030, the population of residents 65 and older will grossly outnumber the 15-64 working population,” Johnson said. “The idea was that seniors will be selling their houses and the younger people won’t be able to afford to buy them.”
He expects to see single-family home prices nationally under pressure for quite a while.
“The dream of younger people buying a home and having a backyard and a dog and everything is going to be harder to achieve because they’re going to be burdened with the extra costs of supporting all these old people,” he said.
Looking at the Maps & Facts maps, Julie Johnson, executive vice president of GPE Commercial Advisors LLC in Phoenix, said she sees incredible opportunity for growth in the senior housing industry in the metro Phoenix area.
“People want to age in place as long as they can typically, but some of these new senior housing facilities are absolutely like the Ritz Carlton,” she said. “These places have every first-class amenity and every luxury that the baby boomers are used to and have been spoiled with, and are going to be demanding s they get older.”
She said more health care real estate investment trusts are investing in senior housing projects.
“Right now, about 50 percent of their portfolios are senior housing properties,” she said. That’s changed from years past when they were mostly interested in investing in medical office buildings.
But senior housing properties are less risky to them, she said.
“The operator is the secret sauce to a successful facility,” Julie Johnson said. “If its a high, 85 percent plus occupancy, that means everything is working well and the risk factors are gone.”
Angela Gonzales covers health, biotech and education.
Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land in Phoenix / Tucson / Arizona. Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.
I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
WHY PHOENIX ARIZONA : ???
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
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I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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