Baby Boomers

Some interesting data on the Baby Boomer generation I recently came across:

There are 76m baby boomers, 2x as much as the previous generation.

In the United States, roughly 810,000 people are living in assisted living facilities. This number will 2x in the next 15 years.

Today the Institutional Assisted Living industry is a $92bn industry.

Of course, many of the 76m people will need quality housing and care. There will be huge opportunities to build, design, and provide services to this industry as it expands with that slice of the population coming of age.

I wonder, what others areas will be impacted by this trend?

I know from experience with my own grandparents the loss of community was devastating to them. Loss of independence as well.

I would love to see innovation in the designing and planning of new communities, such that assisted living facilities are no longer a stark departure away from life, but actually a transition to a better, or equal one.

Some of the urban planning ideas behind communities like culdesac and california forever come to mind. Easy, car-free access to regular activities like getting groceries, going to the gym, coffee shop, beautiful courtyards, would help ease that transition and foster a sense of purpose and agency.

Considering that baby boomers also own a disproportionate amount of the wealth in America, I anticipate huge demand for really high quality, amenities focused communities.

Technological training and education is another area I would love to see more of in this space. I am optimistic that evolutions in technology will make it easier to stay connected with friends and family, but getting the hang of a new technology is always a source of frustration for the elderly, ideally smoothing that transition and providing ways to keep people engaged and excited about new technology and not left behind by it.

Reducing the stigma that exists around some of these communities will start with creating communities that people actually want to live in.