Multi-generational Housing Gets Covid Boost
Category: Family and Retirement
November 14, 2020 — Not surprisingly, occupancy rates at assisted living and independent living facilities are off 2.5% since March, according to data from the National Investment Center for Seniors Housing & Care. Rates in skilled nursing facilities are declining even sharper, they have declined by 12%. One big reason for the soft markets is fear of the coronavirus. After tens of thousands of nursing home residents died in the early phases of the pandemic, nervous relatives have been considering safer alternatives for their loved ones. It is estimated that 40% of Covid-related deaths occurred in long term care facilities (WSJ). Adding to the anxiety are rules where residents are usually not permitted to have visitors, or if they do, only for very short times and under restrictive conditions.
Comments on "Multi-generational Housing Gets Covid Boost"
Jemmie says:
Multigenerational living is a very interesting concept. I love the idea of an ADU (for myself) but don't have the room in my backyard and not sure the HOA would approve. I think having aging parents live in the same house with their own living quarters would be great, but when we looked at several master-planned communities years ago, these models were never mentioned, and were probably not available then. The multigenerational homes are expensive but still would be no where near the $8,000 a month we paid for my mother's assisted living expenses.