- United States
- Texas
- Letter
The situation described regarding the Vietnam veteran Martha Bray and other senior residents at River Glen is deeply concerning. It is unacceptable for a private equity firm to upend the financial agreements these elderly individuals had in place after moving into what they expected to be their final homes. Having served in the military, Ms. Bray and others deserve to live out their remaining years with dignity and security, not face exorbitant rent hikes or losses on the entry fees they paid in good faith. The new owners are prioritizing profits over people's wellbeing. There must be greater protections in place to safeguard seniors from predatory practices by investors seeking to maximize returns at any cost. No one should have the terms of their housing contract unilaterally changed, especially those on fixed incomes who carefully planned their retirement. Stronger regulations and enforcement are needed to prevent private equity exploitation of vulnerable populations like senior living residents. Their life savings and ability to age in place with financial predictability must be shielded from corporate greed. Swift action is required to uphold the rights of our nation's elders and veterans who have sacrificed for this country.
