Australia's largest stock trading and investment forum Australia's #1 stock forum

Building collapse, page-11

First 11 Last

Share
Profile

Follow
pintohoo

86,585 Posts.

75

27/08/22

21:47

Post #: 63363631
Share

Originally posted by kingpins ↑

Hi Pinto and Chappy

In general the builders do not have sufficient money to be running a business and zero reserves

So they operate as a ponzi type scheme and require new jobs to pay for the work on the existing jobs, with the result that any hiccup and they are bankrupt

I started a campaign at one stage to have deposit money paid into a trust account system such as many other business are required to use, I received zero interest from all involved in the housing industry
There was also an insurance system which likewise became so watered down and inefficient that it is useless

Anyone who pays money to a builder to get a house built is crazy, and if any payments are made the customer should receive title to the products purchased

There is no easy way to fix the problem but the government and the industry simply do not care

Expand

you are correct -- it is accurately described - it IS a Ponzi scheme
3 Upvote

Reply

Top Stories

The winners & losers on market if negative gearing were gone

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

DEG

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

There are more pages in this discussion • 147 more messages in this thread...

First 11 Last