Monterey, CA Pacific Grove, CA Senior Housing Boom Races Across The Country, But Hasn't Arrived In Monterey County Yet

It's no secret that the population of seniors is exploding.   At the same time, not surprisingly, the supply of senior housing is expanding at a rapid clip in many major metropolitan areas, raising concerns that builders are racing ahead of demand.   However, analysts said the building spree could lead to higher vacancy rates and lower rent increases for real-estate firms that own housing dedicated to seniors.  The wave of Americans born after World War II who will retire in coming years will expand the pool of potential clients, analysts and executives note.  The Social Security Administration estimates that 9,600 people a day will turn 65 in 2015, up from 7,800 a day in 2010.  However, the occupancy rate for all senior housing in 31 major markets fell this spring for the second consecutive quarter, according to the National Investment Center for Seniors Housing & Care, concerning many.  In Monterey County, real estate prices continue to go up so senior home owners have watched their nest eggs appreciate.