NYT: Seniors Stuck In Homes They Are Unable To Sell

The New York Times ran an article recently titled, “Unable to Sell Homes, Elderly Forgo Move to Assisted Living“, that discussed how the housing crisis is keeping thousands of seniors from moving into retirement communities as they are unable to sells their homes or spend some of the large entrance fees to move into some of the nicer assisted living facilities and retirement centers. The article discusses how the waiting lists that were once long after the initial announcement of the centers/communities have dwindled and some have immediate space available. Some of this lack of movement has spurred growth in adult day care services but until the credit markets get better and allow for more individuals to buy and sell, this trend will only continue to get worse.