Senior living executives say industry is strong in down economy

Those who provide retirement living services that can help families who do not have the time to offer complete care for loved ones are saying that the recent economic downturn has not affected their confidence in the growth of the industry.


While the more than 2,000 companies at a retirement living conference in Philadelphia said they weren't immune from housing price declines and other factors that affected their bottom line, they pointed to continued demand as one reason that they've been able to stay afloat and maintain services.


"Assisted living has become synonymous with a philosophy of care that allows seniors to age with dignity, independence and choice," said Assisted Living Federation of America CEO Richard Grimes.


Other industry leaders pointed to a rise in requests for memory care services for older Americans with Alzheimer's or other dementia that have shown positive increases even amongst the risk of recession.


They also looked at demographics as a point of optimism, considering that the U.S.

Census Bureau estimates that one-fifth of Americans will be over the age of 65 in the next 20 years, when compared to the 13 percent or 39 million in that age range today.


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