NEW YORK: The founder of the assisted living movement has acknowledged privately that its business cycle is drawing to a close.
Created as a response to the ‘concentration camp’ conditions of skilled nursing homes in the 1960s, the model is losing sway to the ‘stay at home’ baby boomer tidal surge.
The concept of purpose built same age aggregation offends boomers, but rising costs and deferred retirement are also having an effect.
But the most deleterious factor is that many assisted living facilities have morphed into full blown skilled nursing homes…