The housing market is in for a shock – unless you’re in Senior Living
On July 20, 2022, Fortune Magazine made it official. “Simply Put: We’ve moved into a housing recession”.
Home sellers and investors have had it easy for the past 11 years. Over the past decade, if you were a homeowner looking to sell your home, there were plenty of buyers around. In fact, bidding wars often ensued and buyers reaped the rewards with over-asking price offers.
But new home construction is down 19% since February, and while that doesn’t seem like a lot, it’s only going to get worse. And interest rates have skyrocketed. The party is over.
Senior Living Being Hit the Hardest during Housing Market Recession
And one of the most significant impacts will be felt in senior living. This $475 billion industry is more dependent on a healthy housing market than most others. Every day, more than 10,000 people turn 65 in the US. And while the demand for senior housing increases, the ability for older adults to sell their homes and transition to a senior living community is going to get a lot more challenging.
Mom’s House is changing how families transition from their homes into senior living communities.
Most families looking to transition a loved one into assisted living or memory care need the equity in their homes to pay for their new community. They need to sell their home no matter what the housing market looks like, but at the start of a housing recession, how can they make this happen quickly?
This recession will put additional pressure on senior living industry operators and their sales and marketing teams. If families are having a difficult time selling the house, how can they be successful in converting leads into move-ins? Operators and families alike don’t want to wait months (or longer) for the home to sell.
Mom’s House Was Built for a Housing Recession
Our nationwide team of Senior Transition Specialists are experts and have more than 20 years of experience in real estate investment and senior living. This housing recession isn’t a surprise to us – we’ve seen this coming for more than a year. In fact, we started Mom’s House to transform the transition experience for families, making the process of selling a home, along with any unwanted “stuff” in the home, seamless and fast.
Our Social Mission of Providing Much Needed Home Selling Solutions for Seniors
We are building a localized senior living specific ecosystem of resources designed to better meet the needs of families that the industry serves. These efforts educate and create positive social change by connecting trusted experts to families looking for the best way to navigate the unique challenges of aging. Our efforts create a cascading effect of resources for senior living professionals, families, and seniors, as well as being a catalyst for a shift in mindset, impacting future generations in America.
As part of our national senior living relationships, we send outbound referrals to other trusted senior living stakeholders to further help families during this time of crisis, including veterans aid and attendance, placement agents, care communities, elder law attorneys, home health agents, and care communities.
A couple of ways to get in touch:
- If you are a senior living industry sales and marketing professional or placement agent and you want to work together, email us at seniorlivingpro@momshouse.com
- If you are looking to sell your home (or a family member’s home), send an email to us: info@momshouse.com
Ben Rao
Co-Founder, Mom’s House
ben@momshouse.com
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