This Vietnam vet, 84, was forced to sell her ‘dream’ home after new owners jacked up her monthly fees 365%

1 month ago 17

Vishesh Raisinghani

Tue, Apr 29, 2025, 4:47 AM 4 min read

Many seniors crossed the state would see their elder surviving assemblage a harmless haven. But for some, these properties crook retired to beryllium wealth traps close erstwhile their idiosyncratic finances are astir fragile.

Martha Bray, an 84-year-old Vietnam veteran, recovered herself trapped successful specified an unfortunate situation.

After 10 years of surviving astatine River Glen of St. Charles, a elder surviving assemblage adjacent Chicago that she describes arsenic her “dream” home, the spot was acquired by 2 concern companies that swiftly raised rents. She told NBC News that her monthly attraction surged from $1,395 to $6,500 — a 365% increase.

I'm 49 years aged and person thing saved for status — what should I do? Don't panic. Here are 5 of the easiest ways you tin drawback up (and fast)
Thanks to Jeff Bezos, you tin present go a landlord for arsenic small arsenic $100 — and no, you don't person to woody with tenants oregon hole freezers. Here's how
Nervous astir the banal marketplace successful 2025? Find retired however you tin entree this $1B backstage existent property money (with arsenic small arsenic $10)

Unable to wage this extortionate rate, Bray yet decided to determination retired and person lone 75% of the $314,000 introduction interest she paid to determination in. Based connected the property’s worth astatine that time, she estimates her full nonaccomplishment astatine $100,000.

“I conscionable privation radical to cognize not to judge a damn connection anybody says,” she told NBC News.

“Your wealth is not safe.”

Indeed, galore seniors are exposed to akin risks erstwhile they motion up for these seniors communities. Here’s wherefore the industry’s representation arsenic a harmless haven is looking progressively shaky.

Factors that marque seniors surviving facilities invaluable to galore families besides marque them charismatic to investors. Elevated rents, recurring gross and the nation’s aging colonisation has made this a lucrative plus people for backstage equity firms.

According to the American Seniors Housing Association’s (ASHA) yearly study connected the industry, 8 of the 50 largest operators successful the U.S. elder lodging abstraction were backstage equity firms successful 2024. And astatine slightest 3 had partnerships with existent property concern trusts (REITs).

Private equity’s power could grow further successful the years ahead. A survey of seniors lodging trends by planetary existent property concern steadfast JLL, showed that 78% of organization investors planned to grow their investments successful elder attraction facilities. “Opportunities beryllium for investors to get high-quality existent property astatine beneath replacement cost,” says the 2025 report.

The interaction of backstage equity ownership connected residents of these facilities tin beryllium “significant and troubling,” according to the Center for Medicare Advocacy.