The relatively brief period where america corporatized and privatized extended families in the form of retirement communities, nursing homes, day-care and so on is coming to an end. Setting aside if that system was a net good, it turns out that it's simply too expensive: it only worked when the US was the worlds factory (first for goods, then for dollars)
If a family has the means and the funds, I believe the money would be better spent building a small “guest house” on the adults properties for their parents to live in, than to a nursing home. Or perhaps have a nurse visit every so often for certain services.
Much of Asian culture never grew far from this notion of parents living at home in old age
Easy to say if you're a software engineer earning 200k.
Not so easy to say if you earn a more normal wage of 60k (not my case btw, I earn quite a bit more) and have to choose between, say, saving for a downpayment on a house or giving your parents money to help them avoid homelessness, possibly for the rest of their lives.
My life has, imo, been ruined by caring responsibilities and I wouldn't change it. It is unfortunate that so many people do not understand the joy that comes from caring for your family. I agree, there is nothing else in life, no self-interested joy can compare. This also seems to be connected to resenting your parents...I have had massive issues with the people I care for, but that doesn't change what my responsibility is...just like your parents didn't walk away when you had a tantrum as a child. Unfortunate.