In Aussie things getting tough for this sector, note the last two sentences.

"The sad facts are that the retirement industry is presently facing a perfect storm where public opinion is at an all time low (the Earl Haven Retirement Village fiasco on the Gold Coast hasn't helped) at a time when Federal and State Governments are under the pump to protect the elderly with legislation. Witness the new legislation where operators are required to compulsorily reacquire ILU's even if a re-sale has not been enacted. The additional capital required to run the DMF model is growing hugely." H/C