almost 20% gold coast properties negative eqty, page-22

  1. 2,098 Posts.
    As a resident of the Goldie i do have some local knowledge.
    Pacific Fair, is old and tired,and in urgent need of a total refurb. The rents are exorbitant whilst the local economy is recessionary.Land lords really have a lot to answer for when the economy is going backwards they continue to hike rents.
    The building industry is dead,and this industry was one of the area's biggest employers.Added to this is fact that a large number of foreign workers on temporary visas are allowed to come into our country and undercut Australian workers. I had a business in the building industry, where i had put around 30 apprentices through their time. I think only about 3 remain in the industry. Mainly because they cannot compete against these o s workers who are content to work for $10-20ph. My cost to employ a tradesman was $45 ph that was before i gave it away of course as it was costing me more to go to work than not.In my opinion this has helped to destroy the local economy.
    Back to the thread and in answer to another poster, Yes Clive Palmer has been very active and has snapped up a number of multi million dollar properties on Sovereign islands at a massive discount to previous asking prices.
    Robina town center is the new pacific fair. Have you ever tried to get a park their on the week ends. Probably more chance of winning the lotto.
 
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