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The Latest in Senior Housing – Mapping COVID-19’s Toll on the Industry to Today’s On-Going Challenges
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Our focus zooms in on the critical challenges confronting the senior housing sector in America. We explore the trifecta of concerns: affordability, accessibility, and availability. Additionally, we delve into the transformative integration of technology, an instrumental tool in fortifying safety measures, enhancing communication channels, and broadening seniors' access to vital healthcare services in the US.
During the intense scrutiny of the COVID-19 pandemic, stringent lockdowns
and safety protocols aimed at safeguarding seniors paradoxically exacerbated their isolation. The restrictions on visitations and communal engagements inflicted a toll on mental well-being, leading to heightened loneliness and depression among our senior population.
Beyond the human impact, the COVID-19 pandemic also took a significant financial toll on the industry, especially the skilled nursing sector of the care spectrum. As regulatory leniency during the pandemic shielded financial distress within these communities, a stark reality now emerges—we can no longer defer addressing these financial challenges. With Mr. Scribner actively engaged in the non-performing loan market for this asset class, we anticipate an influx of distressed opportunities surfacing in the marketplace in 2024.
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