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The Effect
of the Current Economic Situation on Senior Citizens |
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The current economic
downturn has affected all of us in many ways. But one
segment of society affected in particular has not had
many headlines — the senior population. In particular,
many seniors who would normally be selling their homes
to help finance a move to a retirement community or
assisted-living home are finding the crisis affecting
their ability to sell.
“It is part of the hidden problem of the recession,”
said Larry Minnix, president of the American Association
of Homes and Services for the Aging. “Every
neighborhood, every family’s got them.”
According to the National Investment Center for the
Seniors Housing and Care Industry, “Across the country,
occupancy rates for independent and assisted-living
facilities have fallen slightly in the last year, by
about 2 percent through the middle of 2008.” |
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Especially hard-hit areas include Florida and the
upper-Midwest, where vacancy rates at some care
facilities have reached 20 to 30 percent. Some families
and retirees are turning to adult care services,
according to a recent New York Times article.
“Providers say their business has spiked as people look
for an alternative to continuing care or home aides to
provide food, companionship and therapeutic services.”
It is essential that families, friends, and other
members of a senior’s support team help to ensure that
the senior is looking into all possible ways that they
can remain safe, secure, and independent in their own
homes.
Eldercare experts predict that family caregivers will be
asked to pick up the slack in caring for elderly loved
ones. This is where the alternative of hiring a
professional caregiver will be beneficial, not only to
the senior family member, but also to the family
caregiver who may not have the experience or ability to
provide good, quality care.
In tough economic times, there are usually choices and
options available. Sometimes it just takes a bit of
research to find the best solution for seniors and their
loved ones, such as hiring professional caregivers to
help bridge the gap.
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