BP lives directly under the bridge imo.
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Read this... its dated Feb but clearly shows the retirement villages are not playing fair they scalp and cream the market, under pay employees.. so it's super surprising as Oceania have huge debt...
https://www.consumer.org.nz/articles...ement-villages
This is exactly what I'm talking about...
A crazy 30% fee on a property when you exit... they make it incredibly hard for you to move out without taking massive financial hit...
As I said... its a business model set to maximize profits for shareholders......
:cool:cc
Please this stuff to the generic Retirement Village Thread. Alternatively go complain to the Govt. For goodness sakes. Why do you lot pick on OCA thread?
OK, I've had enough. I have created a private group for anyone who, like me, is frustrated with the BS that has taken over this thread. It is a group for on topic discussion of OCA, without any of these ridiculous, unrelated distractions.
If you would like to join, please PM me.
Isn't one of the cornerstones of capitalism to seek ways to maximise the return to the owner of risk equity? It helps an economy to become increasingly efficient. The people who move into villages are not forced to move in. They have had options and must have independent advice. What is the average length of stay in an ORA unit? About 7 years? If it is that, then the fee is about 4.3% pa onnaverage for secure occupation.
I assume the ability to make profits encourages more ORA units to be built. Perhaps a successful manner for providing new residential accommodation in NZ, which has a shortage of residential accommodation...
Also it gives many people an option for retirement, which enables them to tap into the past decades of capital appreciation of what for many (most people?) is their largest asset.