Heise Says
#constructionapocalypse #construction #heisesays
The construction apocalypse is ongoing.
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Florian, this is the best news i have heard for a long time.
Just admit it. These people are white collar crims.
That's me, I had $20k left on my mortgage when job keeper started. And when I could get money out of my Super, I took it and paid the mortgage off. 🙂
Prices go up and stamp duty goes up, so government intervention may be useless.
The problem with these builders is that they kept on taking orders when they knew they couldn't afford to complete them. Yes people wanted houses/renovations/aditions to the property's but the builders don't have to take the orders. Once they were stressed out with too much work to do they could just have said no to people asking for work done to get the ones they have on backlog completed first. Why the heck were they trying to work on six thousand projects at the same time?
Isn’t that simple pays are same from last Decade and house price are three to five time more then it use to be in Sydney how people gona afford it 🤔
How long until this mess escalates into a full blown depression?
15 more to go!
Metricon will be lucky to survive!
When these builders go down they leave a trail of misery in their wake. All the sub-contractors from tilers to landscapers end up not getting paid, leading to a domino effect of smaller bankruptcies. Continuing to trade while insolvent is extremely irresponsible .
Dont worry the Saudi's got a green sustainable wall to sell you, erm, well you rent it along with you subscription for the fruit and vegies you can order…..
Means established detached houses on block in good areas still keenly priced
Social housing in western Sydney has approved approximately $8 million worth of work expected to be spent the next months
Can you please do a segment on why banks are hesitant to lend on modular home builds? Only two banks (CBA and Suncorp) would lend on ours. The company we went with has been doing country homes for 30 years and is covered under the insurance scheme.
I hope the next lot of bad news won't be that the houses they have been building are collapsing as well.
Mr Heise, what would be the margin for a spec builder?
It is a multi-level market situation. Stress belts and units in Sydney and Melb the worst hit. Banks do not print money they print credit. That has to be backed or we would have cash piled to the sun not just the moon. Credit risk is in the bank balance sheets. This has a flow on effect throughout the finance industry and economy. RBA is creating a nightmare helped by the governments actions that are always short term or self serving.
what flavour steiner today?
Add Ajit Construction to the list, got at least a dozen clients lined up to take them to NCAT.
G'day guys, this is reminiscent of the U.S sub-prime mortgage's ( death-pledge ), and now more money methadone for the bloated housing market, car loans, negative gear ect. But no-one dragged the sheeple down to the loan applicators, fool them, but their are still home price rise sprooker's, say more migrants are coming mean higher house prices, every migrant must have plenty ( or none ) money to throw into a over-valued homes.
I see, the next three rate rises at .5%, then the next two-three at .25%, with delinquency rates at an all time high now, what is to come, drop rates, and explode inflation? We'll see.
This is fantastic. I just hope the sites sit there and they stop making all this damn noise. The buildings in question are ugly, of poor quality and they aren't even driving down costs because of hob knob greed so as far as I am concerned they can pack up and piss off.
That will be the least of your worries there in Australia. Down the road when the covid jabs side effects take its toll and people are dropping left and right that’s when the Chinese will make their move. The few whites left will be slaves of China. Your leaders are traitors. That’s why they forced a jab on you for a flu that happens every year anyway. Good luck but the whole of the European world is going through the same thing but in Australia it’s particularly bad
IV meet 3 women in their 50s that lost everything went bankrupt in 2020
Couldn't get any pay outs
None
So lost all their savings
The construction industry has been killed by the rain bombs
Government intervention is always the problem. No free market principles apply. They continue to interfere with the signal. Leave the market alone.
I wonder how many will go broke and reopen under another name with assets hidden.
This is what happens when your whole economy is houses and holes in the ground. What a time to be alive.