Since the day Trump has become the president of United States, there are massive changes in various dimensions of the country. The social and economic change is evident and has a significant impact on the lives of the people of the USA and the world. The policies of Trump have been focused on the economic stability of the United States. The drastic steps being taken in the implementation of the Trump administration policy is increasing the hype targeted towards the industry leaders to change and adapt to more competitive situations. It should be known that the President of any country cannot make overnight decisions and even if they do there is a whole procedure to confirm if it’s implementable or not. If the decision is very difficult to implement, then it gets broken down to more effective steps for the strategic goal.
In this regard, the policies of Trump administration seem to be cutting down the cost and the budgets from healthcare, real estate, global warming and much more. The purpose of holding the money may well provide a better scenario. Since, the war on terror, the economic shortfall and the hike in taxes has not been coming down to their standard rates. For this budgets reconsideration for even the essential healthcare department seems to be a greatly pondered upon decision. The result of this pressure will force the industry producers and service providers to become more competitive out of necessity rather than utility (Yedinak, 2017).
The result may seem to be an ideal situation for the consumers, as they would be getting more services, utilities, and perks for paying the same amounts they used to pay for less utility based service. In this regard, the healthcare department gets into focus to the maximum as it is a necessity rather than a commodity. In this scenario, the service providers of senior living will are affected the most. Since the budget reduction of the Obama care and other health-related programs, there is an opening interest for the private service providers. Since senior living requires living space that is built to suit commercial real estate for gaining an extra edge on locality and location for the customers to be more attracted. The fact that senior living is the most sought after healthcare related service because everyone may end up there the competition to get maximum residents enhances the profit margins.
In this context, there are many real estate investment companies that are also inclined towards investing in the senior living service. It cannot be ignored that the real estate that will be used for a senior living must have all the needed caretaking requirements with additional utilities that will increase the customer flow. With more utility in an option, the customers will be inclined to choose the option with better services and extra perks. Real estate investment companies can invest to create the innovative and more equipped buildings on a strategic location that will provide better commuting, recreational and natural environments. The real estate development companies are focused on catering these needs on the directions of the senior living service providers as they have the market requirement in the form of data collection and information taken from the residents of many senior living establishments (Yedinak, 2017).
The policy administration and competitive environment encourage the industry to become more efficient. In this context, the realization of the potential senior living services is recognized by the market leaders. This causes those to head for the maximum market share, and to achieve this; they would have to offer something more than before. It will not be wrong to say that the baby boomers will also be experiencing the same senior living and would be needed to innovate and adapt according to the residents of that place. The evolution of the senior living will is able to provide maximum benefit to the senior citizens as there would be more perks and services than they used to receive (Nelson, 2017).
Yedinak, G. (2017). The Top 10 Senior Housing Trends for 2017 – Senior Housing News. Senior Housing News. Retrieved 4 July 2017, from http://seniorhousingnews.com/2017/01/22/top-10-senior-housing-trends-2017/