With Tuesday’s mid-terms, will there be any impact on seniors housing and care?
First of all, this mid-term election matters in many ways. But I keep on getting asked whether it will have much of an impact on the seniors housing and care sector.
My gut response is no, at least on the federal level. Over 30 years, I have never really heard that the sector has performed better or worse depending on which party controlled Congress.
On the local level, however, it is a different story, where local voting and referendums can really have an impact on the sector. Take Maine, for instance. They had a vote yesterday to tax Mainers with income above $128,400 (apparently, 1.6% of the population), at a rate of 3.8% to fund a Universal Home Care Program for residents regardless of income. I am not sure how much that would actually raise (less than $150 million is a good guess), but it would certainly not help skilled nursing or assisted living providers.
Apparently, both gubernatorial candidates are against the measure, but when has that stopped voters.
So, I hope you all voted, early and often like I did.