Beth Burnham Mace is a special advisor to the National Investment Center for Seniors Housing & Care (NIC) focused exclusively on monitoring and reporting changes in capital markets impacting senior housing and care investments and operations. Mace served as Chief Economist and Director of Research and Analytics during her nine-year tenure on NIC’s leadership team. Before joining the NIC staff in 2014, Mace served on the NIC Board of Directors and chaired its Research Committee. She was also a director at AEW Capital Management and worked in the AEW Research Group for 17 years. Prior to joining AEW, Mace spent 10 years at Standard & Poor’s DRI/McGraw-Hill as director of its Regional Information Service. She also worked as a regional economist at Crocker Bank, and for the National Commission on Air Quality, the Brookings Institution, and Boston Edison. Mace is currently a member of the Institutional Real Estate Americas Editorial Advisory Board. In 2020, Mace was inducted into the McKnight’s Women of Distinction Hall of Honor. In 2014, she was appointed a fellow at the Homer Hoyt Institute and was awarded the title of a “Woman of Influence” in commercial real estate by Real Estate Forum Magazine and Globe Street. Mace earned an undergraduate degree from Mount Holyoke College and a master’s degree from the University of California. She also earned a Certified Business Economist™ designation from the National Association of Business Economists.
Ideas and Discussion | Market Trends
By: Beth Mace | June 20, 2023
I have mixed emotions as I write this blog post announcing that I will be transitioning my role at NIC. After nine years of being on the staff as NIC’s Chief Economist and a comparable number of years being involved with NIC in various roles including being a member of the Board of Directors and the chair of the Research Committee, I will be stepping back to spend more time on other activities. That said, I am not entirely stepping back!
By: Beth Mace | June 02, 2023
The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls rose by 339,000 in May 2023, in line with the average monthly gain of 341,000 over the prior 12 months, but above the upwardly revised gain of 294,000 in April and 217,000 in March. Market expectations had called for a gain of 195,000 jobs. Of note, revisions added 93,000 positions to total payrolls in the previous two months.
Actual Rates | Business Environment | NIC MAP Vision
By: Beth Mace | May 26, 2023
Data from the recently released 1Q2023 NIC MAP Vision Actual Rates Report showed growth for asking rates was at near-record highs on a year-over-year basis for all three care segments (independent living, assisted living, and memory care) for the data contributors to this data collection. In the recently released report, monthly data of actual rates and leasing velocity are presented through March 2023, including data on rate discounting and move-in/move-out trends. Key takeaways from the report, specifically from the Segment Type report, are presented below. Care segments refer to the levels of care and services provided to a resident living in an assisted living, memory care or independent living unit.
Business Environment | Economic Trends | Workforce
By: Beth Mace | May 05, 2023
The Bureau of Labor Statistics (BLS) reported that the unemployment rate slipped back to 3.4% in April from 3.5% in March. This places it at the same level as in January at 3.4%, which was its lowest level since 1969. It has been hovering in a narrow range for many months now and underscores the ongoing tightness of the labor market.
