The US senior living industry is on the cusp of a significant development boom, driven largely by an influx of baby boomers reaching the age of 80 over the next five years. Over 4 million Americans are expected to reach this milestone as their numbers continue to swell.
However, new data from the National Investment Center for Seniors Housing and Care reveals that annual inventory growth in senior housing has plummeted below 1%, the first time this metric has fallen since its inception in 2006.
In other news, Sinclair is set to merge its broadcast TV business with Tegna in a $6.2 billion deal. Meanwhile, Nexstar’s acquisition of Tegna has sparked significant attention from industry observers.
On the housing front, groundbreaking for U.S. single-family homes rose 2.8% in July, exceeding expectations and reaching a 939,000-unit annual rate. This uptick was largely driven by new apartment projects, despite high mortgage rates contributing to a decline in home purchases.
Source: https://www.businessreport.com/article/roundup-senior-housing-tv-stations-merging-housing-starts