Breaking Ground: Senior Living Now - Navigating New Tariffs

Summary

In this episode, Jerry Vinci discusses the recent tariffs imposed by the Trump administration and their potential impacts on the senior living industry. He explores how these tariffs affect construction, operational costs, and the overall delivery of care in senior living communities. The conversation highlights the challenges faced by developers and operators, including rising costs, delays, and the need for strategic planning to navigate these changes effectively.

Takeaways

• President Trump's recent tariffs are sending shockwaves through multiple sectors.
• The tariffs aim to bolster domestic manufacturing but have significant ripple effects.
• Expect delays and higher costs in both development and repairs.
• Communities may defer renovations due to increased costs.
• Tariffs on medications could directly impact older adults.
• Higher costs for medical supplies and equipment are expected.
• Cost increases may ultimately be passed on to residents.
• The accessibility gap for assisted living could widen.
• Investors' confidence in senior living may waver due to rising costs.
• Strategic planning is essential to navigate the evolving landscape.

Chapters

00:00 Understanding the Impact of Tariffs on Senior Living

01:45 What Isn't in Trump's Crosshairs Yet But Will Be Soon

04:02 Key Areas of Senior Living Affected by Tariffs

08:48 Strategic Responses for Senior Living Operators