OCA - Oceania Group - retirement villages

[Sideshow Bob]

It is an outstanding result and it is entirely due to the measures the government took from day one,

Were too slow to close the border. Didn't take Ashley's advice.

[Cyclical]

Were too slow to close the border. Didn't take Ashley's advice.

Probably. I was calling for it to be closed about 2 weeks prior, but I think the country needed to go through the process it did. Had it been closed earlier, a lot less people would have been in favour, even though it was plain to see what was happening overseas. Having said that, a National lead government would have probably left it even longer for fear of the economic carnage...we'll never know. All seems like a blur now though. Sorry, off topic.

[Cyclical]

Wouldnt be silly to take out a small mortgage at fixed rate of 2.something% for 5 years and buying OCA which at 6% would still offer a return of over 3%.Not to mention the capital gain!!!

So I put this very concept past my bank this week, no mention of any figures or anything, just curious to hear their response more than anything. This was it:

"After discussions with the right people we are unable at this stage to release funds/equity for shares. It is something that <name of bank> is normally not comfortable with at the best of times but given the current environment it’s a no."

Very prudent, if boring.

[winner69]

So I put this very concept past my bank this week, no mention of any figures or anything, just curious to hear their response more than anything. This was it:

"After discussions with the right people we are unable at this stage to release funds/equity for shares. It is something that <name of bank> is normally not comfortable with at the best of times but given the current environment it’s a no."

Very prudent, if boring.

you meant to tell them you need money to build a BIG deck

But I think they've done you a great favour

[Longhaul]

"After discussions with the right people we are unable at this stage to release funds/equity for shares. It is something that <name of bank> is normally not comfortable with at the best of times but given the current environment it’s a no."

Very prudent, if boring.

I wonder if banks would lend for investing into their own investment funds? Imagine that, they would clip the ticket twice.

[Beagle]

Does level 2 restrict rest homes or do they restrict themselves?
I think it is the later - villages can be as close to normal as the rest of us but, I think, they choose not to.

Yes I believe it is the latter. The vast majority of the retirement industry has been playing this very conservatively and good on them and especially good on all the brave caregivers who worked right through this crisis at significant risk to their own health and the health of their loved ones. Awesome stuff !

[nevchev]

So I put this very concept past my bank this week, no mention of any figures or anything, just curious to hear their response more than anything. This was it:

"After discussions with the right people we are unable at this stage to release funds/equity for shares. It is something that <name of bank> is normally not comfortable with at the best of times but given the current environment it’s a no."

Very prudent, if boring.

On ya!!Takes cahoonas to think like that.My focus changed when they announced changers to the biulding regulations regarding what does and doesnt require consents.Still looking to take advantage of the cheap money.cheers

[Cyclical]

you meant to tell them you need money to build a BIG deck

I'm not sure the IRD will let you claim on the loan costs for a deck, even if it was for the local OCA village ;-)

But I think they've done you a great favour

You're probably right. However, I wouldn't have gone large, and OCA would probably need to retract back into the 70s for me to take the plunge with money that's not mine. One would assume that bank's money dropped into OCA at ~25% discount to NTA would be safer than dropping it into a rental property at current asking prices? Anyway, no matter, sleep easy is good.

[nevchev]

Whats going on at the auction.good greif!!!

[sb9]

Whats going on at the auction.good greif!!!

Nothing to see, relating to this as per below...

"NZX Product Operations wishes to advise that today’s ‘Adjust’ trading session in X-stream will be extended to 45 minutes for the NZX Main Board, Debt Market, and Fonterra Shareholders’ Market.
This amendment has been made to accommodate the last trading date in advance of the Quarterly Index Review for the MSCI Equity Indices.
The Adjust session will operate from 5:00pm to 5:45pm. The Enquiry session start time will move to 5:45pm."