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GLIN==> New report: Aging in Place in Upstate New York
- Subject: GLIN==> New report: Aging in Place in Upstate New York
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- Date: Thu, 1 Nov 2007 14:45:08 -0400
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Aging in Place in Upstate New York
October 31, 2007
BUFFALO, NY-The Buffalo Branch of the Federal Reserve Bank of New York
today released Aging in Place in Upstate New York, the latest issue of the
Branch's Upstate New York Regional Review. See
According to author Jane Humphreys, Branch regional analyst, senior
homeowners may find it hard to remain in their homes as they grow older, or
"age in place," because of a growing disparity between the features of the
houses they own and the housing they need.
The author concludes that demand for housing services and products
that enable aging in place will likely create opportunities as well as
challenges for both the private and public sectors.
This change in demand is likely to be of particular significance in
upstate New York, where the majority of seniors are homeowners living in
older, single-family homes that they have owned for a long time.
"The senior share of the population in upstate New York is larger than
in most other parts of the country and seniors' homes are often ill-suited
to aging in place," explains Humphreys. "This suggests that as the
population ages, the region will experience a growing demand for supportive
services such as health care, transportation and accessible housing, which
may pose significant challenges to local governments and community-based
organizations but also create new business opportunities."
Aging in Place in Upstate New York >>