• Flying Squid@lemmy.world
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    1 year ago

    Elderly people without family support are going to end up on the streets en masse because of things like this.

  • afraid_of_zombies@lemmy.world
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    1 year ago

    On the off chance I ever retire I am never going to a retirement community. I will either bother my remaining family with my care or just be found a month later during a wellness checkup, dead on my own kitchen floor after falling.

    I don’t trust these “communities”. I don’t trust any “community” that has a buy in.

  • Birdie@thelemmy.club
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    1 year ago

    My 95 year old mom lives in an assisted living facility. She’s in a 1 bed, 2 bath apt with a kitchen and living area. Her utilities and meals are paid for. Her rent is over $6k a month, and she’s still fairly independent. She’s in her right mind–no dementia at all. She can bathe and dress herself, get herself to the bathroom, get herself into and out of bed, can walk without assistance and handles her own meds.

    Once she needs assistance with any of the above, her rent goes up by $1k a month.

    She just got a complete health workup, and they gave her a life prediction of 10 years. (Her mom and aunts/uncles all lived to be at least 104.)

    Luckily, my dad left her with a sizable amount of money and income from SS and some annuities, but if she does live 10 more years, those annuities will be depleted and so will her savings. She will not be able to afford to stay; SS will never cover her rent.

    It keeps me up at night. We are already paying for half my MIL’s assisted living. How will we ever afford to help both?

    It’s terrible to find yourself hoping your mom doesn’t outlive her money.

    • Salamendacious@lemmy.worldOP
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      1 year ago

      States are different. I have a loved one who lives in a similar situation. A one bedroom apartment with only retired people but the rent is capped at ⅓ monthly income (savings don’t count). We can treat our elderly with dignity. We just have to be willing to pay for it and vote for politicians who are willing to enact it. Children, elderly, people with special needs, etc. it frustrates me to no end how we’ll just throw them aside so our taxes can be just a little bit lower.

    • Overzeetop@kbin.social
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      1 year ago

      The article makes it sound like someone bought the place and jacked up the monthly maintenance fee by $5000 just because “fuck you.”

      Well, given that they bought in under the lump-sum + maintenance model and have somehow been “upgraded” to the rental model, that’s exactly what happened. It would be like buying a home and then the old owner coming back and saying, “you know what, I could get more money renting this place - you have to pay rent now.” These people likely sold their house and used that money to buy into the community - essentially paying for the right to use the building until they die. It’s common in CCRC facilities (continuing care retirement community). You essentially pay for the plant and then pay maintenance, and they guarantee that they will have a spot for you in their care facility as you need more assistance (Independent living -> Assisted Living -> Nursing and/or Memory Care - Hospice). It’s much like a reverse mortgage in that you “buy” your “home” and get to live in it until you die, at which point the deed is turned over with your heirs getting nothing. Except that in this case you don’t get a monthly payment; instead you pay a fee for the facility services which is free of a rent cost. As you move up in care, the fee gets larger to cover the additional services (additional meals, personal assistance, and ultimately nursing care), but it’s just for utilities and services - your payment covers the physical buildings. As you move up, people behind you buy in and that money is used for (CEO bonuses) maintenance and updates to the buildings. Many of these are “non-profits” so the extra money technically isn’t for profit, but there are lots of corporate mouths to feed in CCRCs and they find ways to distribute the money.

        • MotoAsh@lemmy.world
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          1 year ago

          Uhh… that’s EXACTLY what it sounds like? Or are you one of those morons that cannot read between the lines of corpo speak?

          “negotiated buyout process” my ass.

          • SCB@lemmy.world
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            1 year ago

            The people here never owned their homes. They purchased long-term agreements, and as those agreements expired, the owners moved to a different process.

            The “negotiated buyout” is from people ending their leases early.

            • Overzeetop@kbin.social
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              1 year ago

              Okay - you lease a car that includes gasoline and all maintenance. The agreement is that you get to drive it until you die. You pay $80,000 up front for the car and $100/mo for the maintenance, which can increase per the lease. You go along for 4-5 years, and each year your maintenance increases, maybe to $130/mo today, because of the cost of gas and parts needed. You can leave at any time, but if you ever leave or die, you don’t get to keep the car - it still technically belongs to the leaseholder. You forfeit the $80k.

              Well, the company sold and the new owners can’t find enough people with $80k lying around to buy in, so they decided they’ll just change the model to include the cost o the car - and charge $650/mo for the service. You get a letter that at your next annual increase, the monthly fee is going to from $130 to $650 because they’ve changed what constitutes “maintenance” as part of their terms and conditions. You can either stay with the package and pay $650/mo or you can leave and have no money to go find a new car. Oh, and you have no job and are on a fixed income because you’re 75 years old.

              • SCB@lemmy.world
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                1 year ago

                The agreement is that you get to drive it until you die.

                This was not their rental agreement.

                A more apt comparison would be that I’m leasing a car, and after my lease expires, the next lease has higher rates.

                Well, the company sold and the new owners can’t find enough people with $80k lying around to buy in

                This is the opposite of the situation the property owners are in.

                It would save you a lot of pointless stress if you read the articles you respond to.

                • Overzeetop@kbin.social
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                  1 year ago

                  CCRC buy-ins/contracts are for life. I used to design the buildings for them, I still do design work on existing facilities. I’ve also gone over a contract with my own parents. You essentially pay full price for a residential “unit” and as you require more care you are moved, without additional cost, into a higher care location. The owners than re-“sell” your previous unit to the next resident. When you die, there is no equity that your heirs will receive - in that way it’s like a lease. The contract is for life with an annual escalation for maintenance and service.

            • MotoAsh@lemmy.world
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              1 year ago

              So… you’re just going to pretend like a mortgage and their contract aren’t just contracts with large sums of money attached?

              Your inability to see this as a problem is hilarious and quite pathetic. Your humanity has been replaced with business speak.

              • SCB@lemmy.world
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                1 year ago

                They did not sign a mortgage, because they never one the home. I’d strongly recommend reading the article.

                • MotoAsh@lemmy.world
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                  1 year ago

                  You are missing my entire point in order to be pedantic. I know it’s not a mortgage. What part of, “they’re both just contracts with a lot of money attached” did you fail to understand?

            • Overzeetop@kbin.social
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              1 year ago

              From the article it sound like there was no maintenance escalation clause limitation - they bought in for, say, $750,000 with a payment of $1000/month in fees, per their contract. Each year the contract maintenance increases (since costs increase) and it had gone up to ~$1300…then, all of a sudden, the owner decided that they weren’t getting enough people with $750k to drop up front and added a $6.5k/month option with little or no buy in. When these residents rolled to their annual renewal, instead of the normal 3-6% increase, they were “upgraded” to the new rental-based prices - $6.5k.mo. Their contract is still valid, and they can still stay there, but based on the lawyers these people have gone to about the increase, it’s all 100% legal because there is no limit in the contract on how much the fee can increase.

    • CmdrShepard@lemmy.one
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      1 year ago

      The article makes it sound like someone bought the place and jacked up the monthly maintenance fee by $5000 just because “fuck you.”

      That’s exactly what they did though. It’s like buying a lifetime app purchase and then a few months later the app goes subscription based and demand you pay more, except this is people’s shelter.

  • Very_Bad_Janet@kbin.social
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    1 year ago

    From lunch to happy hour, neighbors in the western suburbs love nay excuse to be social, but one group of best friends is breaking up.

    If they can’t bother to copy edit their lede paragraph, I’m not reading the article.

    • mommykink@lemmy.world
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      1 year ago

      I’ve seen so many simple mistakes and misspellings on supposedly serious news websites recently. Are journalists not taught basic writing and proofreading skills anymore?

      • nicetriangle@kbin.social
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        1 year ago

        As I understand it everyone is being paid peanuts to write these days so to make a living they have to churn out a ton of stuff which means attention to detail goes by the wayside

        • Very_Bad_Janet@kbin.social
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          1 year ago

          It’s not the fault of the writer. It’s the fault of the (non existent?) copy editor. When I see a blatant typo in the very first paragraph it makes me doubt the fact checking of the entire article - what else wasn’t looked over?

          • nicetriangle@kbin.social
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            1 year ago

            I’m assuming everyone involved in journalism is getting the squeeze these days so I guess same thing applies there too

      • TigrisMorte@kbin.social
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        1 year ago

        No time for that as must get the story up for the clicks! Oh, and the pay is pitiful so they are all working a half dozen stories and perhaps ghost writing a book or two just to get by.