good buy at $2.49- -good dividend, page-15

yeah - it is the government who is taking the risk - not the resident. The resident is probably getting rewarded appropriately with the fee reduction, but the government is guaranteeing the RAD liability, and the listed aged care providers appear to be at levels that would command a 10 to 15% ish rate in normal commercial markets IMO. So there is a risk that the gov will gradually start to charge a guarantee fee based on normal commercial rates at some stage. Maybe they have the gun to the governments head, and it will not happen. Who knows - I think it is a huge distortion based on mispriced and subsidised capital that will get more and more distorted over time - but it also may be a cost the government decides it is still willing to bear to get more beds.