Australian Senior Housing Company Shares US Housing Pains

Not only is the economy affecting seniors selling their homes in the United States, it is affecting seniors around the world. The Australian ran an article in it’s business section on retirement living company Aevum, a publicly traded stock in Australia, that discussed the troubles it is facing with respect to the asset values of its facilities but also the company stated that prospective tenants had been unable to buy into aged-care facilities because the falling housing market meant they were unable to sell their homes. Aevum owns and operates over twenty senior living communities in Sydney and other major cities in the country. While its current earnings and dividend were cut substantially, the company provided upbeat comments on the positive trends of an aging population in Australia. Aging, economics and globalization are three trends that seem to share parallel paths regardless of locale.

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