Jim Bacon chats with Matt Thornhill, founder of Cozy Homes Community.
Millions of aging Americans have too much money to get government assistance but not enough to move to an upscale independent-living community. In any case, most would like to age in place in their own home. If Thornhill’s middle-market housing solution gets off the ground, it could revolutionize where and how older Americans live.
James Bacon: Hello, everyone! I’m Jim Bacon, and this is the Oinkonomics Podcast.
About 15 years ago, I worked for the Boomer Project, a research marketing firm that specialized in studying the baby boomer generation. A major preoccupation at that time was what happened at Woodstock, but what would happen when tens of millions of boomers got old and had trouble living on their own? Aside from the question of who was going to pay for their Social Security and Medicare, who is going to care for all those octogenarians and nonagenarians? What kind of quality of life would they enjoy as they became increasingly dependent upon caretakers?
Well, here I am, a boomer who reached senior citizen status several years ago. Once upon a time, anyone over 65 was considered old. But guess who’s older? My 96-year-old mother and 89-year-old mother-in-law. They require a lot of assistance. Elder care is not an abstract, sometime in the future concern like it seemed 15 years ago. My wife and I worry about our aging parents every day, and we spend a lot of time thinking about where the best place is for them to live.
That’s all prelude to me bumping into my old Boomer Project boss, Matt Thornhill, recently at a social event. Turns out, while I was scratching out a living as a journalist and blogger. Matt was converting the insights he’d gained from his market research into a real estate venture aimed mainly at aging boomers. Although, it probably won’t be too long before it appeals to Gen Xers, too. As founder and CEO of Cozy Home Community. Matt is developing a very specialized type of housing for communities of aging middle-income boomers.
Welcome to the Oinkonomics Podcast, Matt. Or should I just say, OK, Boomer!
Matt Thornhill: Hey, how you doing, Jim?
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