Previous generations have turned to nursing homes to assist with caregiving. But increasingly, these facilities are simply out of reach for the average family.
As of 2023, 53 million people were caring for a parent, a spouse, or another relative, and of those, 37.1 million were providing unpaidpreparations to do so), it’s likely that a significant number of Generation X, millennials, and even Generation Z will soon join their ranks.
It’s important to know that there’s a government-created and -backed monopoly that has been at play for decades leading to these prices. In a normal free market, suppliers would recognize demand and rush to build more facilities, thus driving down the prices. Thus, supply stays limited, costs stay high, and the entrenched companies in a given area make out like a bandit while taxpayers get screwed.
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