One of the common trends that we’ve observed over the last couple years is a symbiotic relationship between senior care companies and real estate businesses. This often takes the shape of one company developing the land and constructing the appropriate buildings on it while another company establishes the licenses and staff for long term senior care to take place.
Mixing businesses is not a bad thing by any means. In fact, in situations like what I described above, the relationship between these two different types of businesses can be mutually beneficial–and provide a high quality service to people in need. That’s why these kinds of partnerships are often so exciting. They build up economies, provide jobs to a wide range of people, and help people in need to live a higher quality of life.
There’s a lot to unpack here. At first glance, this seems like a very coincidental relationship, but that’s definitely not the case. The shortage of senior care workers has been anticipated for quite some time. As the Baby Boomer generation continues to age, the need for people to help out with their care gets greater and greater. It’s been at least twenty years since the needs of this generation were realized, but the workforce hasn’t grown at quite the pace that it’s needed to in order to accommodate all of these needs. Unfortunately, the pandemic enunciated this issue, showing us just how much work was still needed in order to meet the needs of all of the seniors out there.
But in a way, this has also been a good thing. Bringing the problem to the forefront of the public’s attention brought awareness, and a greater sense of urgency to get more people into the care business. At the same time, it’s also pointed out that there’s a huge need for more care facilities. Some have been created from other, existing buildings, but many have had to be built from scratch. Odds are, you’ve probably seen some sort of new care facility or senior living center being constructed near you over the past couple years.
This makes sense. Although it might seem like a marriage of convenience, there’s really a very similar purpose behind what care companies and real estate companies are doing. Both are taking very real strides toward helping people live better lives. Both are working together to ensure that vulnerable people in our population have safe housing and adequate support.
And as always, please don’t forget that we’re here for you. If you have questions about care we would love to talk more with you. Senior care is what we do, and it’s what we’ve done for quite some time. Our team of trained professionals would be happy to sit down with you during a free consultation session and go over your unique situation and what will work best for you and your loved ones. Feel free to give us a call and let us know how we can best serve your family.
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