Healthcare to Homes: The Big Money Shuffle
June 22, 2024 | Read Online | | | | | Hello, Community Members! | Have you ever thought about who's really in charge in your neighborhood? With rent prices increasing and healthcare changing, a hidden force is changing our daily lives: private equity. | Let's look at a story from close by. Do you know the Conemaugh Health System in Pennsylvania? It used to focus on helping small towns like Johnstown. But in 2018, things changed. | | OVERHAUL
States Dominated by Private Equity in Housing, Healthcare, and Employment | | A big company called Apollo Global Management took over. This significant change from a nonprofit to a for-profit company has shaken things up! | Paul Ricci, who lives locally and works with people with intellectual disabilities, shares that things haven't been great since the takeover. The wait times in the emergency room have gotten long, and dealing with bills has been a hassle. He's seen these problems even though the same people still work there, which is pretty odd. | Apollo is one of many companies doing this. Companies like it have spent a massive $1 trillion in the last ten years on healthcare places alone, often putting them deep in debt and hoping to make a big profit later. And they're interested in healthcare and looking to buy our homes! | By 2030, these companies are expected to own 40% of the houses where just one family lives in the U.S. As they gain more control, the cost of renting a home increases everywhere. Because of these investments, significant changes are happening in housing in states like Arizona and Georgia. | Meanwhile, the healthcare system is changing in West Virginia and New Mexico. However, these changes are only sometimes good, and people are starting to resist. | Chris Noble from the Private Equity Stakeholder Project has a big goal. He wants to ensure we and our leaders know enough to protect our rights and ensure businesses play fair. | Hospitals owned by private equity firms often see more medical complications and patients having to return because of issues after treatment. | In Pennsylvania, Crozer Health has been hit hard. Loaded with debt and continuous reductions, this hospital, which used to be thriving, is now just a shadow of what it once was. The local community and hospital staff are coming together to convert it back to a nonprofit organization to get back to its original mission of serving the community well. | In Atlanta, big companies are buying many houses. This means they control the amount of rent people pay and the living conditions. It's becoming harder for everyday people to afford a place to live without spending too much money. Big companies are changing neighborhoods and the way we live. | Senator Elizabeth Warren is taking action to ensure these big companies are responsible. She wants them to do more than make money — she wants them to help improve our communities. | | Curious about how these changes affect you? Click [HERE] for our detailed report and join the discussion! | Stay informed and involved,
Your Real Estate News Pal | P.S Remember, staying informed means staying in control. Check out our report for the insights you need! | | Ready to turn your real estate dreams into reality? Sign Up for our newsletter for more insider tips and expert advice on funding your investment journey! 🏠 | |
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