The basic and seemingly simple questions “Who is our target market?” and “Can they afford to live here” becomes more and more complicated as the economy tries to find some stable footing. Moore Diversified Services has summarized the three economic classes of senior consumers and who may or may not qualify for your monthly fees and who may need government assistance. [September 2011 Strategy of the Month – Senior Living Affordability Strategies]
Many seniors depend on programs such as the HUD section 202 to provide affordable apartments. As Appropriations Committees for both the Senate and the House work out complicated budgeting issues, it leaves the senior housing industry wondering “Where do we and our potential residents fit in to all these negotiations?” The house and the senate are about $230 million apart on their figures in regard to proposed funding for Transportation, Housing and Urban Development (THUD).
It appears the number may fall in between as the two “chambers will have to come to a compromise on their respective proposals before a final bill is brought to the floor for vote.” (John Yedinak – Senior Housing News)
To read more about government funding of the HUD section 202 program and what this program provides see the following articles from Senior Housing News:
House Appropriations Committee Gives $600 Million for HUD Elderly Housing in 2012