Building collapse

Originally posted by chappy58 ↑

that's as near as dammit to a technical description of a ponzi scheme

It possibly is in a way but that the way it is with project builders and all works fine till something happens.

nope, home buyers wouldn't be involved except for the cost of the home 'possibly' being slightly more

A couple of sunset clauses in amongst all that and the builder could play the owner in various ways.

Where a lot of these issues were caused was prices were already rising rapidly, then all that the wet came and before anyone could get back on site there was possibly 2 or 3 more big price rises and fixed priced contracts and then no money all round and everyone loses.

Then in your seranio a builder may have had the materials and played the sunset clause and got the extra money for no cost, where there is a will there is a way of playing the game to make money.

I have a very good builder mate of 40 years and the MBA talk about all what is happening and also talk about all these different seranios so their members don't go down the same road as some of these bigger fellows.

I class him as a real builder and employes about 25 men fulltime, they do everything from the ground works, slab, frame and trusses as they are registered to make trusses, do all the roof work, gyprock except the finishing plaser.
One of his sons is a plumber so the olny other trades he uses are sparky, brickies, painters and tilers and he likes keeping a lot of his subbies all the way through for years ahead.

He likes having apprentices coming through so they learn all sections of the trade, he has employed some builders from elsewhere at times but found them usless as some might only do one section of the building trade like framing and nothing else.

Why I am saying all this is that some of his men have left over the years which were well skilled in their trade and tried to go it alone themselves but have never succeeded because they were not good managers.
Good builders with good management skills create happy home owners, not a third party that can be used as an escape goat.

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"It possibly is in a way but that the way it is with project builders and all works fine till something happens."

this is true of all ponzi schemes

"Then in your seranio a builder may have had the materials and played the sunset clause and got the extra money for no cost, where there is a will there is a way of playing the game to make money."

whilst potentially true - that would mean that a builder would have to pay for supplies early - the whole point of making a claim is that - the builder would have to have receipts to make a claim -

which means that they would have to have purchased materials

as futures are a zero sum game - so, it should not make any difference anyway.

I think Ozzies need (but, won't) look into why their builders always are going bust and letting depositors and land owners stay holding the bag - whereas in other nations - not so much

probably a lot to do with convict blood in the breeding stock