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- All Subjects: Senior Living
- All Subjects: Mortgage
- Creators: Sadusky, Brian
- Creators: Anand, Rohan
- Creators: Stephens, Corey Christopher
- Creators: Tang, Julie
Description
This expository thesis explores the financial health and actuarial analysis of a particular solution for those seeking stability and security in their golden years: the CCRC industry. A continuing care retirement community, or CCRC, is a comprehensive project and campus that offers its residents a full spectrum of care from independent living, to assisted living, to skilled nursing. After reading this paper, any person with no prior knowledge of a continuing care retirement community should gain a firm understanding of the background, risks and benefits, and legislative safeguards of this complex industry. Financially, a CCRC operates in some aspects similar to long-term care (LTC) insurance. However, CCRCs provide multiple levels of care operations while maintaining a pleasant, engaging community environment where seniors can have all their lifestyle needs met. The expensive and complex operations of a CCRC are not without risk: the industry has seen marked periods of bankruptcy followed by increasing and changing regulatory oversight. Thus, CCRCs require a periodic actuarial analysis and report, among array of other legislative safeguards against bankruptcy. A CCRC's insolvency or inability to meet its obligations can be catastrophic and inflict suffering and damages not only to its residents but also their friends and families. With seniors historically being one of the most vulnerable demographic groups, it is absolutely essential that an all-encompassing care facility continues to exist and fulfill its contractual promises by maintaining sound actuarial practices and financial health. This thesis, in addition to providing an exposition of the background and functions of the CCRC, describes the existing actuarial and financial studies and audits in practice to ensure sound governance and the quality of life of CCRC residents.
ContributorsTang, Julie (Author) / Milovanovic, Jelena (Thesis director) / Hassett, Matthew J. (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.
ContributorsStephens, Corey Christopher (Co-author) / Dicke, George (Co-author) / Anand, Rohan (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.
ContributorsAnand, Rohan (Co-author) / Dicke, George (Co-author) / Stephens, Corey (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Homeownership is an essential part of the American Dream and one of the most important tools for anyone in the 21st century to build wealth. Unfortunately, the COVID-19 pandemic has introduced a level of uncertainty to a market that has been largely stable since the last recession. This has proven to be a major roadblock affecting multiple generations of Americans in their quests to develop wealth. A particularly interesting case study through this crisis has been the housing market of Phoenix Arizona. When the challenges presented by the pandemic began to unfold, thousands of home listings and sales were canceled all the while newly unemployed Arizonians began to worry about meeting their mortgage payments. However, this disruption didn’t last long, several months after the beginning of the pandemic housing prices quickly began to swell. Many listings continue to be sold for tens of thousands of dollars above the asking price which has led investors to ask: how have Phoenix homes been able to seemingly ignore the economic downturn?
Today we are living in the hottest housing market since early 2007, and many expert opinions on the state of the market conflict with one another. Some expect housing prices to crash, others believe this growth is sustainable. A complex web of interconnected financial and human systems has led us to the position we are in today and several important questions have been left unanswered. What forces have driven the market to such dramatic heights? Who have been the winners and losers in the Arizona housing market during the pandemic? And what can be expected to happen in the near future as the “new normal” served to us by COVID-19 unfolds? The purpose of this thesis is to explore these questions and identify the underlying factors that have created the current market conditions. It will begin with an analysis of relevant supply and demand factors, then move to identify groups of winners and losers, to finally develop a prescriptive outlook for challenges facing Phoenix’s housing market.
ContributorsEllerd, Wyatt (Author) / Sadusky, Brian (Thesis director) / Hoffman, David (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2022-05