By Steve Moran

Last week, the stock market crashed in a spectacular fashion, followed by a very modest recovery. And everyone is wondering what is going to happen to the economy. We are seeing a number of signs the economy is slowing: continued high interest rates, increasing unemployment — and it appears consumer spending is slowing (though this is a bit of a mixed bag).

Senior Living and the Economy

It seems odd, but a slowing economy appears to have more positives for senior living than for many sectors:

  • It should bring interest rates down.
  • Increased unemployment will make hiring easier.
  • The cost of other goods and services will decrease or at least moderate.

Retirement incomes tend to go further in a slowing economy. Add to that the growing boomer population, and it looks pretty good.

But …

We have an insanely competitive and contentious election staring us in the face — with two candidates who face fierce opposition, maybe even hatred, from the other side. They have radically different ideas about what it takes to create a robust economy for all.

An Expert’s Take …

You now have my take, which is far from an expert’s perspective. But if you want to hear from a true expert, you need to check out what Diane Swonk, the chief economist for KPMG, will have to say at the National Investment Center for Seniors Housing & Care (NIC) fall conference.

Here is what you can expect:

  • A comprehensive analysis of the current economic environment and what it means to senior living.
  • What might happen to interest rates, heading into 2025
  • How the financial markets are looking at the upcoming elections and what that means
  • Economic signs senior living leaders should be monitoring
  • A practical discussion of how various economic scenarios could impact senior living
  • What you can do to insulate your organization from the current economic uncertainty

And of course, this conference has so much more to offer:

  • Networking
  • Educational sessions
  • Great conversations
  • New opportunities

I am looking forward to seeing you there.

Foresight is a media partner to the NIC Fall Conference.