Many Seniors Can't Sell Homes

by Administrator 5. February 2009 09:35

By The Denver Post - Advocates for seniors say a key problem in the senior housing sector is that some folks hit hard by the recession can't sell their existing homes or pull together other resources to make moves to independent or assisted-living communities.

"We're hearing anecdotally that this is where part of the problem is," said Shelly Hitt, Colorado's ombudsman for long- term elderly care. "The companies need commitments from people to financially carry these projects."

Some research seems to bear it out. Nationally, occupancy in assisted-living facilities has declined 2 percent since 2006, according to the National Investment Center for the Seniors Housing and Care Industry. In Denver, the decline has been roughly 6 percent.

As a result, increasing numbers of seniors and their relatives are contracting for care services to come to their homes, according to Senior Helpers, a nationwide provider.

Sandi Neil is among them. She hired Senior Helpers to provide part-time care for her 79-year-old mother, Merline Keenan, after the recession closed off other possibilities such as assisted-living homes.

Keenan needs help with taking medication and staying on a regular meal schedule. But Neil, as a United Airlines flight attendant, is often out of town.

After studying the possibility of an assisted-living home, she discovered that it cost up to $70,000 a year — far more than her mother could afford. And the mortgage crisis has prevented Keenan from selling her Northglenn home.

"I'm probably going to stick with this service," Neil said.

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Tags:

Aging Successfully | Demographics & Aging | Finance | Home & Senior Housing | Retirement

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About the Author

John Rothbarth is the owner of the St. Louis Times, a media company focused on serving the informational needs of the St. Louis metro-area aging baby boomer/60+ population. The company publishes the St. Louis Times Resource Guide, St. Louis Times Express, and hosts St. Louis Times Funfest and St. Louis Times Geriatrics Symposium events. The company was founded in 1994 and has remained true to its original mission of 'doing some good for older adults and the professionals who work on their behalf.'

Since 1994 the company has won over 20 National Media Awards. He has participated on many local Boards of Directors, all of whom cater to the needs of our area’s aging population. For 2009 he is also President of Breakthrough Coalition, a consortium of over 250 aging-focused organizations and  professionals dedicated to serving the needs of older adults in the St. Louis / Illinois bi-state area.

John is a native St. Louisan, father of two sons, and graduate of the University of Missouri - Columbia with a BS degree in Business Administration. His interests include reading mysteries, jogging, motorcycling, and aviation - he is a pilot with instrument, multi-engine and seaplane ratings.

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