Watched the four corners show tonight re problems in building...

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    Watched the four corners show tonight re problems in building industry , particularly units.
    My daughter and her husband purchased a new unit about seven years ago in an inner western Melbourne suburb.

    Very soon after moving in it was clearly evident there was a water leakage problem leading to mould on the walls .
    The builder had gone into liquidation and the body Corp fees kept rising considerably & I suggested to my daughter that this was to pay for repairs not covered by insurance or the builder ( in liquidation).

    In part at my urging they sold the unit for about what they had paid & five years later the same units have not moved in price . I was pleased my daughter got out when she did but I feel very sorry for people caught in this mess. In my view private certifiers are , in cases , captives of builders as they rely on them for continuing work.

    Many people with mortgages will simply walk away from badly damaged units.
 
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