Over the past two years, households that earned $50,000 or more annually and had the means to join the ranks of home owners or continue owning the roofs over their heads represented the fastest growing segment of the rental market, according to the National Multi-Housing Council.
"These are people who could have bought but choose not to," NMHC's Kim Duty reported at the National Association of Real Estate Editors' annual conference late last month in New Orleans. "Their older, more affluent and better educated, but they choose renting for the lifestyle, not economic reasons."
As Duty sees it, "the pendulum is swinging back" to the early 1900s when apartment living was considered chic. "Changing demographics, evolving lifestyles, new public policy initiatives and changes in the apartment industry are all working together to increase apartment demand," she told the meeting.
Over the next decade, according to NMHC's research, the two fastest growing age groups are two of the most likely to select apartment housing people in their mid 20s and empty-nesters in their 50s.
After more than 20 years of declining numbers, the population in the traditional renting years (age 20-29) is expected to increase by 11 percent over the next decade. During the same period, moreover, the number of people in the 45 to 74-year-old age bracket will swell by 20 million, and these are folks who exhibit a much greater proclivity to rent than the counterparts in previous generations.
Duty, the apartment group's vice president of communications, also said the fastest growing portion of newly formed households going forward will be childless couples, singles living alone and unrelated households, all of whom have a higher propensity to rent than to buy.
She cited "three key reasons" these and other households choose to rent:
• A desire for hassle-free living People want to simplify their lives by shortening their commutes, shedding household-related chores and living closer to entertainment, restaurants and shopping.
• Financial incentives Many households want the ability to pick up and move from one job and/or place to another at will without incurring the costs of buying a new place and selling the old one, "financial penalties" few purchasers consider. Others opt to rent so they can invest their money in the stock market as opposed to their homes.
• Superior amenities The evolving apartment sector now offers a package of services and features that cannot be replicated in a single-family house, at least not affordably. These include high-speed internet access, security, built-in social opportunities, on-site concierge, fitness centers business centers and even movie theaters.
In addition, Duty said, many of today's apartments "look and feel more like single-family homes. They are larger, and they include finishes such as attached garages, built-in, pre-wired entertainment centers, private alarm systems, granite counter tops, oversized whirlpool tubs, gas fireplaces and more."
The NMHC also believes the 1997 Tax Act tilted the rent-versus-buy decision in favor of apartments. Now that the first $250,000 of capital gains ($500,000 for married couples filing jointly) is tax-free, more home owners are able to consider renting without being encumbered by a huge tax liability.
Indeed, the group's analysis indicates that apartment demand could increase by as much as 10 percent over the next several years due to this change in the tax law alone.
On the supply side, meanwhile, new interest in smart growth and infill development is "making it easier to get new apartment construction approved," Duty said, maintaining that apartments utilize existing infrastructure more efficiently that detached housing.
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"Urban areas also realize that the lifestyle rental market is a key market to target in trying to recruit middle and upper-income households to return downtown," the industry spokesperson added.
Finally, in contrast to mom-and-pop apartment owners of yesteryear, most of today's landlords are large firms that are invested in the long-haul, not short-term tax benefits. And as a result, they have made obtaining and retaining residents "a highly professional endeavor."
There are several types of medical alarms. Depending on your needs, they can differ drastically in terms of price, service, and how they work. When choosing a medical alarm you must first look at the company and the services they provide. How reliable is their equipment? Do they offer 24 hr assistance? How fast is their response? These are just a few of the questions you have to ask yourself before determining what service to go with.
Most medical alarms or Personal Emergency Response Systems (Pers) are connected to your existing phone line with a special 2 way monitoring device or control box. The console uses a very loud speaker and sensitive microphone so you'll be able to be heard wherever you are in the house. Most alarms feature a wireless, single button, water proof, device (normally you have a choice between a necklace or wrist strap) that interacts with the console when help is needed. The control box, located near the telephone, will immediately call or notify (when the emergency button is pressed) a trained professional who returns the call to the patient or contacts the appropriate parties. If there is no answer, help will be dispatched. Depending on the situation, a friend, relative or ambulance is summoned. Medical alarms are great for expecting mothers, the elderly, handicapped, or diabetic patients.
There are also medical alarms that can be attached to your existing burglar or security alarm. If you have an existing alarm we suggest contacting your service company to see if they provide a medical alarm as well. Keep in mind that in this situation you'll have to verify how reliable their service is since they do not specialize in medical emergencies (however maybe they do). Make sure to ask.
Questions to ask when purchasing a medical alarm service.
* How fast is the response?
* Does the console have a rechargeable battery?
* Is the console attached to your existing phone line?
* What if the phone is busy during an emergency?
* Is the wireless transmitter waterproof?
* Is there a guarantee on parts, labor, and services?
* How far can the transmitter communicate with the console?
* What is the monthly fee?
* How is the response team trained?
* Any other charges. Setup, Activation, or Termination Fees?
* How reliable is the response teams equipment, computer systems?
Below is a publication from the National Center for injury prevention and control of the Centers for Disease control and prevention.
Falls are often due to hazards that are easy to overlook but easy to fix. The checklist below details hazards found in each room of your home. For each hazard, the checklist tells you how to fix the problem.
Safety Tips
* Keep emergency numbers in large print near each phone.
* Put a phone near the floor in case you fall and can't get up.
* Think about wearing a Medical Alarm that will bring help in case you fall and can't get up.
Floors - Look at the floor in each room.
* When you walk through a room, do you have to walk around furniture? Ask someone to move the furniture so your path is clear.
* Do you have throw rugs on the floor? Remove the rugs or use double-sided tape or a non-slip backing so the rugs won't slip.
* Are papers, magazines, books, shoes, boxes, blankets, towels, or other objects on the floor? Pick up things that are on the floor. Always keep objects off the floor.
* Do you have to walk over or around cords or wires (like cords from lamps, extension cords, or telephone cords)? Coil or tape cords and wires next to the wall so you can't trip over them. Have an electrician put in another outlet.
Stairs and Steps - Look at the stairs you use both inside and outside your home.
* Are papers, shoes, books, or other objects on the stairs? Pick up things on the stairs. Always keep objects off the stairs.
* Are some steps broken or uneven? Fix loose or uneven steps.
* Are you missing a light over the stairway? Have a handyman or an electrician put in an overhead light at the top and bottom of the stairs.
* Has the stairway light bulb burned out? Have a friend or family member change the light bulb.
* Do you have only one light switch for your stairs (only at the top or at the bottom of the stairs)? Have a handyman or an electrician put in a light switch at the top and bottom of the stairs. You can get light switches that glow.
* Are the handrails loose or broken? Is there a handrail on only one side of the stairs? Fix loose handrails or put in new ones. Make sure handrails are on both sides of the stairs and are as long as the stairs.
* Is the carpet on the steps loose or torn? Make sure the carpet is firmly attached to every step or remove the carpet and attach non-slip rubber treads on the stairs.
Kitchens - Look at your kitchen and eating area.
* Are the things you use often on high shelves? Move items in your cabinets. Keep things you use often on the lower shelves (about waist high).
* Is your step stool unsteady? Get a new, steady step stool with a bar to hold on to. Never use a chair as a step stool.
Bedrooms - Look at all your bedrooms.
* Is the light near the bed hard to reach? Place a lamp close to the bed where it is easy to reach.
* Is the path from your bed to the bathroom dark? Put in a night-light so you can see where you're walking. Some night-lights go on by themselves after dark.
Bathrooms - Look at all your bathrooms.
* Is the tub or shower floor slippery? Put a non-slip rubber mat or self- stick strips on the floor of the tub or shower.
* Do you have some support when you get in and out of the tub or up from the toilet? Have a handyman or a carpenter put in a grab bar inside the tub and next to the toilet.
Other Things You Can Do To Prevent Falls
* Exercise regularly. Exercise makes you stronger and improves your balance and coordination.
* Have your doctor or pharmacist look at all the medicines you take, even over-the-counter medicines. Some medicines can make you sleepy or dizzy.
* Have your vision checked at least once a year by an eye doctor. Poor vision can increase your risk of falling.
* Get up slowly after you sit or lie down.
* Wear sturdy shoes with thin, non-slip soles. Avoid slippers and running shoes with thick soles.
* Improve the lighting in your home. Use brighter light bulbs (at least 60 watts). Use lamp shades or frosted bulbs to reduce glare.
* Use reflecting tape at the top and bottom of the stairs so you can see them better.
* Paint door sills a different color to prevent tripping.
Both Mishel M Handler Handler & Paul Fleming are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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A Business Development Executive When evaluating a particular Business Coach ask for several references from coaching clients past and present. Contact the references and ask them questions regarding their experience with the respective Business Coaching Organizations