Developers will be squeezed from all directions, higher interest rates, lower LVR's, tighter credit, defaults on off the plan sales, vanishing OS demand, depreciating the value of the development sites they hold and an increasing number of projects nearing completion in the next couple of years in the saturated falling home unit market.
About to get ugly.
Watch for the downturn and subsequent rise in unemployment in the building industry and related industries.
It is only just starting as there is always a 2-3 year lag with work that is in progress being cleared.
Projects in the pipeline are already being cancelled.
This one will take a long time to play out.
Housing, page-762
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