Remember when the banks said house prices would drop 20% because of covid. Literally did the opposite LOL
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When you consider the large number of unsold units (a years worth?) I think 'strategic' is code for something is wrong and units aren't selling that well so we better discount them
Are you sure you understand OCA's business?
From what I see - they sell (mainly) care suites ... 61% of them as Basil / beagle loves to tell us. These care suites won't sell like hot crossed buns to people who don't need them (yet). That's the flip side of their business. On the bright side (for shareholders): There are always people who do need this service, and as soon as they do, they will take it, no matter what.
Given that supply is somewhat lumpy (you finish a handful of hundred units at the same time) but demand a constant flow ... it will always take a bit of time until they filled one of these new buildings.
This is the difference between a needs based service (like e.g. a hospital) and a cruise.
here's the graphical evidence of the sectors demise
peak in sector was when NZ was in lockdown level 4 sept 21 , when NZ alert levels ended it was all down hill and everyone new then there would be no more lockdowns
here the link to time lines
https://covid19.govt.nz/about-our-co...-alert-system/
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