“Senior-Living Debt Defaults Far Outpace the Rest of Government Debt Market,” by Lauren Coleman-Lochner, Yahoo!Finance

“One sector is an outlier when it comes to the traditionally-tiny default rates in the $4 trillion municipal bond market. … Roughly 7% of the $43 billion in outstanding senior-living bonds, or about $3.2 billion, is in default on a payment, according to data compiled by Bloomberg. That compares to a rate of less than 1% for all state and local government debt. … For elderly people with more options, the pandemic accelerated a growing preference to avoid senior living, said Eric Kazatsky, senior US municipals strategist at Bloomberg Intelligence. … Kazatsky points out that a significant number of Americans in the 55 to 65 age group now have long-term care insurance, giving them ‘a sense of agency over how their care is given.’ And more seniors are moving in with their children in a return to multi-generational households, he added.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Caregiver shortages and nursing home bankruptcies are having their effect on the senior care financial market.