Will AL need a Bailout?
Maybe it's time for the assisted living industry to start demanding the next bailout. As the economy worsens and the real estate market has ground to a halt, seniors who were looking at AL services can't make the move.
"Without selling their houses or condominiums, many cannot buy into retirement homes that require a payment of $100,000 to $500,000 just to move in. So they are scratching themselves off waiting lists, canceling plans with packing services and staying put, in houses that fit well 30 years ago, but over the years have become lonely, too large or too treacherous to navigate," reports the New York Times. Read the full article here: http://www.nytimes.com/2008/11/22/us/22home.html.