Hey guys. What's uh... what's an STG?
Anyway.
Is everything excusable in the name of free enterprise? Maybe saving for a house was displaced by the deceased spouse fighting cancer for ten years, or because going to Harvard or MIT or whatever wasn't possible for them but damn sure was gonna be for their kids, or the nest egg disappeared with the rise and fall of some financial bubble or another. You can't blame those folks for thinking they'd found some semblance of stability to live under for what years remain, and then expressing anxiety at strong signs they are about to lose it.
As for Ivory Homes, they really have the right to do whatever, but come on. Shame on them. It would be cool if this story were instead about Ivory Homes leaving lease rates alone and protecting the peace of mind of senior citizen residents, instead of pursuing the potential of greater profit. I know we live in a capitalist society, and progress would be stymied if our whole country functioned this way, but... I don't know. Maybe Ivory shouldn't have gotten into the business of providing housing to seniors on fixed incomes if a future option of pulling the rug out from under relatively helpless old people didn't make them feel just the tiniest bit disgusting.
Man, pos rep incomming, but there are some caveats. First, these seniors signed leases that didn't protect them from rent increses. Did they not expect rent increses? Did their fixed income planning not include inflation?
This is coming from a guy who burned up all his retirement savings and more and at ~37... might, maybe, if no more shoes fall, be able to start slowly builing it all back up again. I don't look down my nose at these folks, just asking if they are really unculpable?