Online Trading Academy Article of the Week
by Diana Hill, Online Trading Academy
“People will always need a place to live, work and shop.” I say this often because sometimes I get the impression people think the opportunities in real estate investing are going away. Nothing could be farther from the truth. It’s knowing where the next opportunities are that is key.
Here are a few trends that I see coming our way that may lead to opportunity.
NORC – Naturally Occurring Retirement Communities – these are communities that were not originally built for seniors, but as time has passed they are now home to a significant proportion of older residents.
America’s population is aging and that will only increase over the next 20 years. Because of that we are seeing a large growth in NORC communities. There are two broad categories:
Housing-based – Also known as “classic,” “closed,” “vertical,” these are located in a single age-integrated apartment building, housing complex with multiple buildings under common management, or an area where a number of apartment buildings are clustered together.
Neighborhood-based – Also known as “open” or “horizontal,” these are typically one and two family homes in age-integrated neighborhoods.
These communities evolve, they’re not planned. They evolve in various ways:
Age in place: Many communities house residents who raised families there decades ago and never left. They strongly wish to continue living in their homes.
Move into the community: A pattern of in-migration often brings seniors into age-integrated communities, typically in urban centers where seniors have access to amenities, culture and other activities.
Smart/Green Homes – What is a smart home? It is a commonly used term that defines a home that uses a “Home Controller” to integrate the home’s various automation systems. Integrating the home systems allows them to communicate with one another, thereby enabling single button and voice control of the various systems. An example would be using the system to turn on lights, TV and turn off the security system when you press one button on a remote as you approach your driveway.
