No problem. My OCA shares should cover it by the time I need it.
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No problem. My OCA shares should cover it by the time I need it.
Ha ha, funny I was thinking the same. Maybe not for me though, it might be out of my league when I'm in the same position, but who knows. This innovation by OCA with The Hellier is quite extraordinary, that they saw a long time in advance that there might be a population nearby who want to stay in their zone but continue a life of luxury that they're accustomed to, with the added benefits of aged care close by.
Considering what it cost to build The Hellier, which by property market investments is relatively modest, albeit quite a few millions shareholders have stumped up on this 'bet', and the long term returns. These are devoid of government interventions by way of 'care room rates' and the like, it might just be something special for residents and owners of the company that is enduring.
I'll be very interested in the uptake of The Hellier and whether it can be replicated elsewhere in the country. It really is quite unique, and obviously appealing for those who can afford it.
The practical reality is that you cannot now have a profitable business at the low end of this market. I certainly do not begrudge staff (cooks, cleaners, caregivers etc) a decent wage but again unless subsidies are correspondingly increased (and they aren't) it exacerbates the problem. As does lack of nurses and others in the labour market. So there is no new investment in facilities intended to meet this demand.
Most listed operators have made public statements or commentary in the last 2 or 3 years about rebalancing stock in their portfolios. And some are actively marketing existing unprofitable or marginal facilities despite it being apparent that disposal is difficult to achieve against a background of regular ongoing closures of private rest homes. And all this in the context of a rising demographic tide of folk needing such support. And I regularly read about complaints directed to the (relatively few) organisations that exist to provide relief and care for people remaining in their own accommodation despite needing direct support to do so.
So cracks have appeared and the listed operators will/are incrementally moving their business model to those who can afford to pay. If you want/expect quality of life in the aged care sector you will need an asset base which will support that and you are increasingly unlikely to experience that unless you do. The present system has overleveraged the selfless commitment and goodwill of so many staff who work in the sector without recognising that our society is gradually changing. Australia is not much different, which is why our listed operators model can succeed in that country too.
My advice is to keep saving while you can as you are very likely to need that wealth when 70+ if you wish an adequate lifestyle/standard of care in this country.
Attachment 14659
From Mary Holm Q&A
Yes I saw that. I meant to share it but got sidetracked and forgot, so thanks for posting it. This is where the media lets everyone down, and continues to perpetuate the current myth that RV's are greedy, self serving, selfish businesses who make money out of vulnerable old people, who are incapable of making their own decisions. They hook into every "negative" event/issue, and completely ignore the "positive" - sensationalist journalism with zero attempt to present the other side of the story.
It needs to stop.
It’s the truth though.
The media in NZ has been coached (by corrosive persuasion and Covid media $$$ support) into promoting any situation as having two victims - the victim and the criminal are two sides of the same coin.
Hence, retirement villages providing a critical & necessary service are written up as profiteering businesses taking advantage of the naive elderly.
Oh, we all just have to remember to be kind! Treat gangs with aroha and atawhai. Everything in NZ will be kapai! :t_up:
I don't give a rats arse what you believe is the truth. This is the OCA thread, and I am sick to death of you coming in here and taking the discussion off track, for your own personal political agenda. You have multiple political threads at your disposal, where you can work on giving yourself a heart attack or stroke, without destroying every damned thread in these forums.
Just piss the **** off!