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The price elasticity of senior housing demand: is it a necessity or a luxury?
Senior housing properties provide tailored lifestyle, housing, and personal care services to aging adults. Having emerged from needs-based settings, senior housing is typically viewed as a necessity. As a result, demand estimates often rely on assumed utilization rates. We use monthly data beginning...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Palgrave Macmillan UK
2022
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9589560/ https://www.ncbi.nlm.nih.gov/pubmed/36313011 http://dx.doi.org/10.1057/s11369-022-00282-3 |
| Sumario: | Senior housing properties provide tailored lifestyle, housing, and personal care services to aging adults. Having emerged from needs-based settings, senior housing is typically viewed as a necessity. As a result, demand estimates often rely on assumed utilization rates. We use monthly data beginning in 2017 to model occupied senior housing units as a function of price and a time trend. Our two-stage least squares approach provides an estimate of senior housing’s price elasticity of demand. Results show elasticity coefficients of greater than one, implying senior housing market is more of a luxury than a necessity. |
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