The increasing number of COVID-19 outbreaks at nursing homes and retirement communities across the nation has lenders worried about the financial health of these facilities, according to an article in American Banker.
The Department of Health and Human Services would see a 10% funding cut, and the Department of Housing and Urban Development would see a 15% funding cut, under the $4.8 trillion budget proposed Monday by President Donald Trump. Organizations representing senior living operators are reviewing it with an eye toward how the proposed cuts would affect operators and those they serve and a promise to advocate for their members.
The U.S. Department of Housing and Urban Development on Friday announced awards of more than $51.6 million to a total of 18 nonprofit organizations to finance affordable senior housing construction, provide rental assistance and facilitate supportive services delivery for very low-income seniors.
LeadingAge and the country’s largest not-for-profit provider of affordable housing for older adults said Monday that they are looking forward to contributing as the Department of Housing and Urban Development plans a bus tour “focused on the need for increased affordable housing.”
Thirty-nine percent of respondents to a new survey who were aged 70 to 79 said they plan to rely on Social Security in retirement “a lot, as a lifeline to keep me afloat,” suggesting both challenges and opportunities ahead for senior living operators.
Digital marketing may be the answer to the major challenges affecting senior living in 2020.
A proposed rule issued Tuesday by the Department of Housing and Urban Development would significantly weaken efforts to reduce discrimination and segregation in the United States, according to fair housing advocates.
Expanding support for affordable senior housing is one of the actions Sen. Amy Klobuchar (D-MN), a candidate for the Democratic nomination for president in the 2020 election, said she would take in her first 100 days in office, if she is elected.
Like never before, senior living and care organizations are facing a time of great uncertainty. These trends will have significant bearing within the senior living space.
House legislation designed to expand that nation’s supply of affordable senior living received a quick endorsement from one of the nation’s largest provider organizations.
