PHOENIX: Rising occupancy levels, attractive returns, low cost of capital and assets that are “priced to perfection” are lulling retirement community developers into a false sense of security.
The healthy state of the current market is triggering an over-build of product with a life expectancy of under 10 years.
The boomer market will refuse to be shoe-horned into age-apartheid catchments.
There is a window for existing product, but it is closing quickly…