# If you are Australian, don't sell up until you see this video



## mellowyellow (Jan 18, 2022)

Excellent 4Corner program made in 2017 about Aveo, another Chinese-owned enterprise called

*Bleed Them Dry Until They Die:* The retirement villages ripping off retirees.

Don’t sell up until you watch this.

https://www.abc.net.au/4corners/bleeding-them-dry-promo/8643348


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## dseag2 (Jan 18, 2022)

There is no question that these assisted living facilities are profit centers.  I knew that going in, but there was no other alternative.  My mother lived in assisted living in the US for 4 years and the monthly rent consistently kept going up.  She was actually happy there so I was happy to keep writing the checks.


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## Skyking (Jan 21, 2022)

After I retired as a career military / airline pilot, I became a Nursing Home Administrator. In the USA, in my state, I can assure you that thanks to the Dept. of Health, everything is massively more expensive. The 'evil' corporate owners made maybe 3% on their investments. At that rate there just wasn't enough to re-invest and make the residents life the way it should be. Blame them all you will but they are doing the best that they can. I know, I was there in the middle of it all for 10 years.


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## Skyking (Jan 24, 2022)

That's also why so many 'Nursing Homes" change ownership so often. When the  owners see the handwriting on the wall they sell to the next unsuspecting owner, who takes out an even larger mortgage to buy the building before finding out that 3%-5% just isn't enough to maintain a proper building.


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