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  1. #2741
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by minimoke View Post
    Surely an "essential" is available to all, regardless of wealth. Otherwise its a "luxury"
    The average national price of a care suite at OCA according to last year's annual report was just $227K. I read today the average national house price has hit $680K.

    Its this huge margin of comfort that makes me think OCA care suites will keep selling in good times and bad whereas for example if the Auckland medium house price drops from $900K to $750K will people still be buying SUM and RYM Auckland units for $800K ?
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  2. #2742
    Legend minimoke's Avatar
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    Quote Originally Posted by Beagle View Post
    The average national price of a care suite at OCA according to last year's annual report was just $227K. I read today the average national house price has hit $680K.
    That may be. But your average OCA Care Suite will be bought free of debt. Your average national house will be loaded with debt.

    So to buy a suite (or any retirement villa type option) a person needs to pretty much clear of debt by the time the option is being looked at. That is an option that will only apply to the top X% of NZ's population.

    The trouble with falling property values is that it releases, on sale, less capital to the owner - which tightens their options for their next buy. Then a care suite becomes an unaffordable luxury.

    There remains an ongoing beacon of hope - and that is government (regardless of side) wants people out of the primary health system. We ought to see incentivisation into care suites - with the added benefit of freeing up residential housing stock.

  3. #2743
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    Quote Originally Posted by Beagle View Post
    lol believe it or not you can live without booze.
    Cholesterol is an alcohol and although too much of it is bad it is essential for survival and two thirds of your bodies total cant be influenced by diet or exercise.

  4. #2744
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by minimoke View Post
    That may be. But your average OCA Care Suite will be bought free of debt. Your average national house will be loaded with debt.

    So to buy a suite (or any retirement villa type option) a person needs to pretty much clear of debt by the time the option is being looked at. That is an option that will only apply to the top X% of NZ's population.

    The trouble with falling property values is that it releases, on sale, less capital to the owner - which tightens their options for their next buy. Then a care suite becomes an unaffordable luxury.

    There remains an ongoing beacon of hope - and that is government (regardless of side) wants people out of the primary health system. We ought to see incentivisation into care suites - with the added benefit of freeing up residential housing stock.
    Given the average age of entry to a care suite is mid 80's I would have thought most people would be debt free by then ? Surely we're not all going to use up the equity in our homes with reverse equity mortgages because our kids are ratbags and don't deserve anything ? or are we lol
    Last edited by Beagle; 16-01-2019 at 01:16 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #2745
    Speedy Az winner69's Avatar
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    Beagle needs to empty his PM ...that’s discretionery
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #2746
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by winner69 View Post
    Beagle needs to empty his PM ...that’s discretionery
    Made space in my inbox for your opinion by PM mate which is something I consider an investing staple
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  7. #2747
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    Made space in my inbox for your opinion by PM mate which is something I consider an investing staple
    Just wanting to send you some insider info ...no worries
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #2748
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by winner69 View Post
    Just wanting to send you some insider info ...no worries
    Woof woof, that's sounds good.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #2749
    Legend minimoke's Avatar
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    Quote Originally Posted by winner69 View Post
    Just wanting to send you some insider info ...no worries
    The thing with "inside" information its supposed to stay Inside. Now we all want to know, so you may as well spill the beans.

  10. #2750
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    I'm not sure about NZ property being mortgaged to the hilt - total housing lending approx 250 Billion and total housing value approx 1 Trillion so an LVR of 25% give or take

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