SilverBack..this probably aint the right forum for this...I agree that these companies are largely a RE play.
However not many folk have predicted a "backwards" movement in RE.Over the past 100 or so years...RE (at least in CHCH) has averaged about 7% compounding.
In the past month or so..Ive been looking at retirement entites for my mother.Anywhere between 200K to say $400..gets something reasonable.Ok one looses 30% in the first 3 ? years.
Whats the ave price in NZ now..about 500K ?.
Its my belief that folk will still move into retirements homes...and that in all likelihood the "kids' will just get less....what ever the RE market does.Cheers