A few of us from campus were privileged to attend a very enlightening presentation this week on the 2017 economic outlook sponsored by the Greater Phoenix Chamber of Commerce. it was encouraging to hear that, we can expect a continuing good business environment and that, compared to the rest of the country, we rank 6th in our position in the recovery, up from a 20+ position a few years ago. Nonetheless, the recovery is weak compared to others, but is actually the second longest in history since 1928.
Elliott Pollack, nationally renowned as a veteran Arizona economist, informed us that education and health services should continue to boom and are not expected to be cyclical, but rather steadily increase despite market fluctuations. In fact, one of every eight new jobs will be in the healthcare industry as the Phoenix metropolitan area continues to develop as a national center of medical expertise. Employment in the health industry has actually risen 156% since 2008.
Construction is doing well as evidenced by the substantial amount of home building as well, apartments and our unemployment rate is at a historically low level. Significantly, for those of us in the senior living industry, we are more in a seller's market than any time in the last eight years with values up and inventory slightly less than demand. Sales of existing homes are on track to finish 2016 as the strongest year since 2008 and prices of homes should continue to rise. That is good news for those exiting home ownership to come to a campus such as Beatitudes. Most interesting, was Mr. Pollack's observation that there will be a “tsunami of eligible buyers in five years as bankruptcies fall off of credit reports.”
Despite all of the good business environmental factors, we continue to look for ways in which we provide opportunities for our campus to thrive in other ways which make a difference in, not only the quality of life of our residents, but our community as a whole. I recently read an article by Debra Wood, R.N., that highlighted that giving time to improve another person's life, or the greater community, offers benefits far beyond the good deeds done by volunteers. It creates feelings of self-worth in those doing the giving and can improve their outlook and well-being.
“Volunteering gives us another reason to get out of bed in the morning, because we look forward to getting together and doing this,” says Carol Jenkins, a resident at Parker and McCarrick in Somerset, NJ, and secretary of its Living with Purpose Club. “It makes us feel good helping others.”
I had the pleasure of watching this in action this past Friday evening, October 7th, at the Open Door Fellowship Church which hosted the formal kick off of the 19 north neighborhood association group. Jim Elliott and his wonderful group of campus volunteers have been an integral part of taking an idea surrounding completion of the light rail on 19th Avenue, and potential concerns about the development of the neighborhood, to a solid coalition of stores, shops, restaurants, city recreation centers, churches, hospitals, schools and us, as the sole senior living provider, to a movement solidly committed to strengthening our one-of-a-kind community. 19 North is encouraging each to take pride in our area and make it better by contributing ideas, energy and passion……..and interacting with each other in meaningful ways.
It was a privilege to set up our booth and talk with hundreds of interested community members, many of whom expressed interest in learning more about Beatitudes Campus. But the true joy was seeing so many of our residents in action – speaking, working at the display, interacting with other members of the coalition and formulating plans for additional volunteerism in churches, schools and community services. That is a significant demonstration of our vision and one of the great ways in which Beatitudes Campus becomes more than just a place to live, with a solid business environment. We are now advertising in the Sunnyslope Plus newspaper which is being retooled with entire 19 North pullout. What a thrill to be on the ground floor of something so significant for our neighborhood and to work with such a committed group of volunteers! Once again, I have to observe “my cup runneth over!”
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