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Old 01-09-2017, 02:04 PM
 
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This makes me so sad! Also determined to own my house when I retire, none of this renting! My house is one story, bathrooms accessible, kitchen easy to navigate, yard small enough to hire lawn done without going broke, etc. I can manage in this setup some way, without worrying about being thrown out. There's no security in renting
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Old 01-09-2017, 02:53 PM
 
Location: southwestern PA
20,419 posts, read 37,708,751 times
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Quote:
Originally Posted by MaryleeII View Post
This makes me so sad! Also determined to own my house when I retire, none of this renting! My house is one story, bathrooms accessible, kitchen easy to navigate, yard small enough to hire lawn done without going broke, etc. I can manage in this setup some way, without worrying about being thrown out. There's no security in renting
They are not being thrown out.
They are being paid to temporarily relocate for renovations, then are coming back at the same rent.
They also get their meals and activities without interruption.

Did you even read the article?
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Old 01-09-2017, 05:12 PM
 
29,815 posts, read 34,907,142 times
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The following is part of the OP link and why I started the thread.

Quote:
“Actually, I don’t have the answer to that,” said Freshwater, explaining it was a joint venture, but he couldn’t recall the specific LLC.
I asked if Kayne Anderson,*a Florida-based investment firm, put*up a chunk of money and Watermark manages the property. Freshwater said that’s it, essentially.
The Kayne website says it has invested in 34 senior facilities “representing more than $1.2 billion in transaction value.” The Kayne strategy is to buy, upgrade, and “increase the value of its portfolios.”
The Watermark “business model is to shut down old senior buildings and reopen them as luxury board-and-care assisted living for which they charge a lot more money,” said Jim Bickhart, Councilman Koretz’s point person on Horizons.
Hedge funds, investment funds, venture capital funds are moving into the senior care area with a goal of getting the high resource part of the senior population especially baby boomers. While the current population is well into their 90's the new population will be even more affluent and perhaps a decade younger. It is one thing for this effort to cater to well healed seniors if they build new facilities adding to the base of senior housing. It is another when they take over existing facilities and up the price and create more luxury beds and fewer affordable beds in the area. This is happening especially in higher income areas.
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Old 01-09-2017, 05:43 PM
 
446 posts, read 283,327 times
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We also need to remember when talking about seniors, what a huge and variable group this includes, both age and in ability to function. As a healthy 60 year old, I could easily cope with moving for a few months or a year, especially if reimbursed. If we are talking about an 85 year old, he or she might require a lot more than money in order to manage. One of the big issues for many elderly is loss of what is called executive function, the ability to plan and make decisions. The friend I mentioned experienced this. My parents absolutely have experienced this. If my folks were in assisted living and had to leave for a few months, they would be incapable of planning and executing the details of the move, even if paid for. Ten years ago, they would have managed. That particular issue wouldn't be a problem for them because my brothers and I can and would plan everything for them. But many elderly don't have retired, physically able adult kids living near them who can swing into action.

A second main issue is the stress of change, and this is where my elderly friend couldn't cope. She couldn't have her own purchased hospital bed with her ( put in storage with the rest if her furniture) so couldn't sleep comfortably. Nothing was where she expected it to be when she woke up after just a few hours of sleep. Her usual meal routines were disrupted, leading to malnourishment and stomach distress. Combined with lack of sleep, lack of her usual daily companions, and completely stressed out by the need to make plans she couldn't handle, she declined quickly,

If you are aging without these problems, you are lucky indeed. But please don't minimize the pain, anxiety and truly frantic stress for someone else in this position who is mentally and physically altered by age. As I said, it killed my friend. The rehab and the closing the building might have been unavoidable, but putting the burden of planning, organizing, and much physical activity on frail, elderly people already anxious and stressed, was not unavoidable.
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Old 01-09-2017, 06:51 PM
 
249 posts, read 197,501 times
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Reminds me of my visit to Laguna Woods in Orange County, CA. The Realtor showing me some places, took me to one in the process of a flip.

Who knew flippers were alive and well in Laguna Woods? Personally the margin seems too small for the risk.
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Old 01-09-2017, 08:34 PM
 
457 posts, read 190,037 times
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Los Angeles is NOT a place one should be living in when they are old and infirm. Highly transient, huge wealth gap, traffic that doesn't exactly care that grandma cannot hobble any faster...

This thread makes me want to keep an eye on the local criminal den when I'm 80 and try to pull a 'Gran Torino' like Clint Eastwood. Getting old sounds terrible, maybe the anti-death penalty folk have a point...
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Old 01-10-2017, 01:51 AM
 
Location: Planet Woof
3,139 posts, read 3,514,750 times
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I am aware of some HUD senior independent apartments doing this in my area too. Many residents have nowhere to go and no one to help them pack up and move. It is horrible-beyond my comprehension as to how they expect most of these frail elderly to cope. It seems no one cares about anyone anymore. It is always about money.
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Old 01-10-2017, 07:11 AM
 
Location: Central NY
4,689 posts, read 3,258,145 times
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^^^^^^^ I'm in agreement with this.
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Old 01-10-2017, 09:20 AM
 
249 posts, read 197,501 times
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Quote:
Originally Posted by FeelinLow View Post
I am aware of some HUD senior independent apartments doing this in my area too. Many residents have nowhere to go and no one to help them pack up and move. It is horrible-beyond my comprehension as to how they expect most of these frail elderly to cope. It seems no one cares about anyone anymore. It is always about money.
These people are given plenty of money to hire someone to help them move.
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Old 01-10-2017, 09:31 AM
 
Location: Central NY
4,689 posts, read 3,258,145 times
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Quote:
Originally Posted by cmarlin20 View Post
These people are given plenty of money to hire someone to help them move.
Where are they getting this "plenty of money" from?? And who are they getting it from??

I'd like to get in on that (haha). I've never heard of it before.
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