James Balda, CEO and President of Argentum, a leading senior living association, states that the elderly prefer residing in senior living and care facilities on account of the available support and socialization opportunities. People generally move into senior living and care facilities in their mid 80s. United Nations reports the global population of those aged over 80 at 143 million in 2019 with 53.9 million living in Europe and North America. With such sound fundamentals, the long term prospects for the sector are bright. On the other side of the coin are the estimated 20% rise in labour costs and 100% escalation in the cost of supplies. Since the sector cannot arrange walk thru for potential clients, occupancy rates can drop in the near future. However, the senior living and care sector is lobbying for $20 billion of the $100 billion healthcare stimulus under the CARES Act, which should offer relief.