#Construction #Recession #HeiseSays
Builders seem to be collapsing on a weekly basis.
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Cowboy builders operate much like a Ponzi scheme today and our government is responsible because of the laws only lawyers can negate . Building 20 years ago was much cheaper and moved much quicker than today .So much Local council BS along with State BS .So much insurance costs all being paid for by the owners …
In the 80s my pay was $10 an hour you could get a chippy for $20 to $25 an hour. Today they want $200 an hour when your average Joe Blow earns $25 an hour.
Hey, all the Economic Intervention & Inflation caused by the Government the last 2 years has been totally worth it, because hey, we got FREE RAT TESTS lolol
FYI I had a Client back in 2020 who signed up with us. He could go straight to Building License as no Planning was required so would have been at Site 2 months after Signing, however our Builder charges a Deposit Upfront (that gets taken off first progress payment) to pay for all our Administration in getting the job to Site. He's broker was in his ear telling him he was paying too much upfront so her refused to pay. Project got held up 4 months & because of that, he was hit up with a 5% price rise lolol
He would already be in his House by now & $15,000 better off
Good. Government subsidy rats. All libertarians when they open their mouth.
Not only builders in trouble. News today that Afterpay has posted big losses due to a huge increase in bad debts. Gee, who could of seen that coming, desperate people using afterpay to juggle debts around to try and get themselves out of trouble, now defaulting. I thought this would happen when all these various new “financial instruments” started appearing. A good chance this is just the tip of an iceberg situation with regards to debt. As the Chinese say, we may well live in interesting times.
You talk about archeticts like they are the most important part of the build. Maybe back in the day but these days their input is as useful as a wet matchstick.
Could be argued that the lobby groups killed the building industry. Yay … more digging and more selling.
Death …. death is but the fault of the faceless leaders in all industries
Ya can’t tell me the government didn’t know this was all going to unfold. Pushing and encouraging people to buy property when a collapse was on the horizon.
quickly scomo throw another 60k at housing again! :O
Your right it won't be the last until there are some systemic changes.
I'm at the beginning of the process right now, trying to engage an architect and or architect/builders. My experience so far is not great, 1st a builder seem to think we didn't have the money and other barriers. 2nd flaked after me asking to schedule our first site walk/consultation another day so my partner could attend(i hadn't even agreed to the day yet).
As a PM for a non building construction company it blows my mind how I'm not getting traction on our project.
More is coming up people can not afford housing crazy price there is crazy happening we must stop the price hike in 🏠 housing
Love your work mate. Watch all your videos – no bullsh!t is what i like. From the heart.
BlackRock will own them homes all and the Davos mob.
Starting with Evergrande there have been several construction companies that have gone under recently but we just do not hear about it from the main stream media.
October 2021 it was estimated more than 50% of builders in QLD were insolvent. The qld gov guarantee contracts and that the home will be completed as per contract specifications by way of Qbcc insurance scheme for residential. It is interesting the qbcc isn’t pulling licenses in large quantities. Of course if someone trades insolvently, their personal assets are up for grabs and sadly that may be the play here. No one wins in these situations. Stimulating every housing market in the country simultaneously it seems, wasn’t a great plan.
So my sympathy was dented a little by the building industry not supporting the minority of building workers who didn’t want a certain jab.
United they stood, divided they fell.
So I dunno should we care as much for people losing their jobs as they did about their mates?
Do you know if home warranty will cover the costs to complete the project as per plan (a fixed price contract that was signed 2 years ago) the build was meant to take 3 months as it’s a Granny Flat but the builder has done what you have explained and used my money on other unfinished homes and not on my home.
How can this be happening during the greatest wealth creation event in history? Sure I would understand airline staff been wiped out of course. But ANYTHING related to putting a roof over someones head? This should be a ticket to riches!
Once residential interest rates imminently rise to more realistic levels, many more builders will collapse. I have observed this scenario occur several times over the last 55 years.
Governments will try to alleviate the problem with taxpayer funded building projects. This will be the best chance in decades to address the drastic housing shortage.
Speaking of YouTube medical training I once gave myself a tooth filling using dental tools purchased from eBay! It lasted two years! Not a bad first attempt.
And the Pandemic narrative continues to cover the debt bubble in all Real estate debt bubble countries, that are about to pop.
Now if these builders had gone created a YouTube channel that talks about builders going broke instead of having a go to actually achieve something they'd be on easy street just like you Florian livin on the fat of the lamb 😊