Why the retirement community of the future will be more like a WeWork
Louise Rausa, 72, lived in world-class cities including Paris and New York, and she spent part of her adulthood in co-housing communities in the western United States where residents shared a kitchen, garden and outdoor space.
So when it was time to retire, there was little chance that a sedate retirement community would make a suitable destination for the active, now-single Rausa, who shares her knowledge of cuisine in workshops for neighbors and regularly hosts her grandchildren.
A little over two years ago, the former registered nurse opted for an apartment in North Hollywood, Calif.’s NoHo Senior Arts Colony, where hallways are a rotating gallery, studio space is available for residents to mix their own paints and a theater occupies the ground floor. In true Angelino style, Rausa owns a car and parks it on site, but she can walk around her high-density neighborhood or take mass transit.
The downsides? “There could be more grab bars [for support], and the rent goes up about $35 a month every year. For [neighbors] on a limited income, that does not keep up with COLA [the annual cost-of-living adjustment].”
In fact, that estimation may be understating what has been a steady creep higher for senior housing costs, especially in robust real-estate markets such as California, where the Department of Housing and Urban Development has allowed subsidized senior rents to float higher, capped at increases of 11% a year, alongside price gains in the overall market, says Michelle Coulter, director of artist housing, with Meta Housing, the developer of the NoHo project.
- Between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%.
- By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years.
- In 2050, 80% of older people will be living in low- and middle-income countries.
- The pace of population ageing is much faster than in the past.
- All countries face major challenges to ensure that their health and social systems are ready to make the most of this demographic shift.
People worldwide are living longer. Today, for the first time in history, most people can expect to live into their sixties and beyond. By 2050, the world’s population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. Today, 125 million people are aged 80 years or older. By 2050, there will be almost this many (120 million) living in China alone, and 434 million people in this age group worldwide. By 2050, 80% of all older people will live in low- and middle-income countries.
The pace of population ageing around the world is also increasing dramatically. France had almost 150 years to adapt to a change from 10% to 20% in the proportion of the population that was older than 60 years .However, places such as Brazil, China and India will have slightly more than 20 years to make the same adaptation.