The Slowing Economy Impacts Assisted Living

Many seniors who were planning on selling their homes or condos to move to an Assisted Living Community are now finding they must stay at home a little longer.  As home sales have slowed dramatically, these seniors are unalbe to sell their homes.  Yesterday's New York Times story interviews a few different seniors who have received a refund of their down payment back from a retirement community as their homes simply are not selling.

The slowing economy is impacting all of us but for seniors who may need more care, selling their home to move is much more a need than a want.

Alternatives to moving include hiring a Senior Home Care Agency to assist with care part-time.  And, if a senior is a veteran, they may qualify for the Veteran's Aid and Attendance benefit which will pay for a caregiver to assist the senior in the home part-time.  We provide information on qualifying for this benefit along with the Veteran's Aid and Attendance application on Caregiverlist.

The good news is, with occupancy down at many Assisted Living Communities, they are more willing to negotiate pricing - just remember to ask.  You may also want to track the stock of some of the Assisted Living Communities to learn more about the corporations and their financial health.

Some of the Assisted Living Corporations and their stock symbols are:

Sunrise Assisted Living SRZ

Assisted Living Concepts ALC

Brookdale Senior Living BKD

Emeritus Corporation ESC

 

 

Comments (1) -

  • Katie Deming

    11/23/2008 4:32:00 PM | Reply

    Looking for Assisted Living options is very confusing.  My family was not able to find an affordable option so kept my Grandmother in her home with home caregiving services.  We really liked the Assisted Living communities we visited but the monthly costs are close to $4,000 and a senior must be able to afford this lifestyle.

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