Related Experiment Video
Updated: Aug 23, 2025

Assessment of Dependence in Activities of Daily Living Among Older Patients in an Acute Care Unit
Published on: September 30, 2020
The price elasticity of senior housing demand: is it a necessity or a luxury?
1Applied Economic Insight LLC, Milwaukee, USA.
Abstract:
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.
Related Concept Videos
Continuing Care
Elasticity
The elasticity of an object can be described by a stress-strain curve, which represents the relationship between stress...
The Anchoring-and-Adjustment Heuristic
Documentation in Long-Term and Home Healthcare Setting
Long-Term Care Facilities
Cognitive Dissonance
Elasticity in Concrete

