My parents looked into moving into a +55 community. The cost of a 3 bedroom house in the complex was about AUD $500k plus 8k pa for body corp. You don't own it, just lease it. When you move out you pay 32% of your initial cost for refurbishment. There is a second option where you get 50% of any capital gains but you have to pay for the refurbishment yourself.

It is peak fiat.

Hotels send busses there to pick them up to play the pokies.