Will changes to health care and the enactment of theAffordable Care Act have a trickle-down effect on the housing market? Of course since this is uncharted territory, it’s all supposition now, but it’s certainly worth looking at how healthcare reform could affect the housing market in the near future both positively and negatively.
What is the Trickle-Down Effect?
The first indication that reform could have a positive impact on the market in a round-about way is the fact that people will no longer be forced to choose between employers who offer insurance benefits and those who don’t. If medium sized suburban firms are forced to offer coverage, it means more choices for potential employees to choose a home location if commuting isn’t such a factor. If more people live and work closer to home as opposed to commuting into the city to firms that offer better coverage, local businesses could become more competitive as they will be able to attract better candidates. Could the once more sleepy communities soon thrive, thereby increasing home values and making the market more competitive? You may be thinking this line of reasoning is a reach, but it’s actually not that far off base according to some experts.
When Top Health Care Exists for All…
Also at issue is the effect of health costs on home buyers who are deciding where to settle. Due to an increasing aging population, the health care industry is clearly booming. But health costs are a growing concern for this segment of the population and certainly for their caregivers. However, if all folks are assured coverage, will this be an added selling point when choosing a neighborhood to buy a home or retire in? In addition to citing the best schools and safety ratings, will realtors soon be pointing out the most elite, top level hospitals and physicians? Or how about assisted living facilities in the neighborhood?
At the Crossroads: Where Health Care Meets Real Estate
Thousand Oaks, California is an example of a neighborhood where the confluence of health care reform and real estate is apparent. In this case, buying a home here would be especially attractive to a buyer caring for an aging parent or one who, in any case, needs top medical care close by.
While Thousand Oaks is one of the most affluent communities in Southern California, it is also the home to one of the area’s top medical facilities. As many elite medical professionals expand their practices out to the suburbs, such is the case of UCLA Thousand Oaks. And, now that coverage is no longer a major concern for those with preexisting conditions, it doesn’t get much better than the physicians from UCLA in your own backyard:
UCLA Thousand Oaks is a multispecialty office of general Internal Medicine and Family Medicine physicians and specialists in: Cardiology, Dermatology & MOHS, Digestive Diseases, Endocrinology, Geriatrics, Medical Nutrition, Pulmonology and Rheumatology. Most are on staff at UCLA Medical Center, Santa Monica and Ronald Reagan UCLA Medical Center. The practice serves patients throughout the Conejo Valley, Las Virgenes, Ventura County and the San Fernando Valley. We are available to see our patients for same day appointments for illnesses.
The Best of Both…
At a crossroads where health care meets real estate, isn’t it time you have the best of both? If you are ready to buy a home in the exclusive neighborhood of Thousand Oaks or adjacent communities like Westlake Village, contact Lydia Gable today for an appointment.