Harrison Street said it is focusing on a similar mix of assisted living and memory-care units rather than housing for seniors who don't need any assistance.

WSJ: Deal of the Week: Sell, Buy Senior Housing

And funds to provide low-cost housing for low-income seniors were cut by about 15 percent, although a new program to provide counseling for the elderly seeking affordable housing was funded.

FORBES: The Slow Starvation of Senior Services

So badly is this program needed that for every unit of federal housing assistance that becomes available, ten seniors are on waiting lists, with increasing numbers becoming homeless.

FORBES: Throwing Grandma From The Train