Issue link: https://nest.uberflip.com/i/843660
we need memory care, we could become unsure of our decisions or forgetful. Aging is relative. Some people are born "old." Others are young into their nineties. Yet despite all of these vagaries, we do know several things for sure: America has an aging population with an increasing life expectancy, most of whom desire to stay in their homes indefinitely as they age. In fact, the aging of the nation's Baby Boomer population (folks born between 1946- 1964) could reshape the United States' residential real estate market and economy in the coming years. In fact, already 108.7 million strong, the population of Americans age 50 and older is expected to swell by another 10 million—nearly 10 percent—by 2020, according to AARP. The number of Americans age 85 and older, meanwhile, is expected to more than triple by 2060, making them the fastest-growing age group in the country. Americans aren't merely aging, however; they're also living longer, according to the U.S. Census Bureau, which says a baby born in 2015 will live to an average age of 79.4 while one born in 2060 will live to an average age of 85.63. As members of this baby boomer demographic get older, many will move out of the houses where they raised families and downsize into smaller, cozier apartments, condominiums, and townhouses. So how do we meet the housing needs of an aging population that plans to stay in their homes, but won't admit that they are aging? Simple: We must change the discourse related to housing and aging. The dialog must be about adding features that enhance our lives today by offering a return on investment through livability…yet also happen to support the process of aging gracefully. Let's rebrand "aging in place"— an activity for old people—and start a discussion, instead, about "thriving in place": a goal for all people. Baby Boomers Hesitant to Invest in Aging- Related Home Upgrades With 61 percent of homeowners over the age of 55 planning to stay in their homes indefinitely, it's surprising that few older homeowners are investing in aging-related improvements. In fact, 65 percent believe their home's layout is adequate without any aging-related improvement, and over three-quarters of homeowners (78 percent) have never completed an aging-related renovation. Older Homeowners Want to Thrive in Place, Not Age There is a disconnect between the perception of aging in place—adding grab bars and install- ing wheelchair ramps—and the reality: that many design features can enhance the livability of a home for all ages. Among homeowners who've never considered an aging-in-place renovation, 40 percent say it's because they don't have a physical disability that requires it; 20 percent say they don't consider themselves old enough yet for such a project. Smart Home Technology Increases Safety and Livability Smart home technology can provide solutions for homeowners looking to increase their safety, accessibility and