US construction of retirement villages drops by 90%

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Only 6,000 ILU’s were built in the US in 2010, according to Robert Ezer of Baybridge Seniors Housing (Ontario) at the Terrapinn Retirement World Conference last week. This compares to 1999 when construction peaked at 65,879 ILU’s. He sees no change in the uptake in the US market either, because of the mortgage crisis, despite the accelerated ageing of the population. This tells us that the village market can hold off the decision to move.