- Joined
- 18 September 2008
- Posts
- 4,041
- Reactions
- 1,185
It is too early to say if this analysis is correct but the issues I raised earlier of people/banks taking a huge hair cut on units are coming to pass.
Real estate agent reveals hundreds of thousands of dollars ‘wiped off’ unit values
A one-bedroom apartment in Sydney’s embattled Mascot Towers complex was on the market for $740,000. Today, it’s virtually worthless.
https://www.news.com.au/finance/mon...s/news-story/96262d9d117f830f071ac101f4c749d6
I pity anybody who has an apartment that was built by the same builder as Mascot Towers. They too will suffer a huge financial loss even if no defects are found.
Whoever provided the certificate should be. But this is often an overseas certification with no comeback.moXJO
Have done that.
Competitor was chosen and we notified about the product
They supplied a certificate of Compliance.
---Product used.
---Product not compliant.
They eventually tested it due to some failure.
So who's Liable?
Do you know who the builder was ?
I'll say two words and no I'm not being racist.
Chinese steel.
Lots of it around and the problems are extremely well known. It's cheap though.....
That's a comment about doing things properly not about Australian industry protection. No problem if it's from Japan, Germany, France, UK, USA, Canada, NZ, South Korea or any other place that does things properly just avoid the known poor quality stuff.
Then there's the competency of those doing the work. Suffice to say that right at this moment my pet hate is those who should but do not understand, or choose to ignore, galvanic corrosion. It ain't rocket science, it's high school level stuff really, but all too often ignored. Galvanized steel in contact with copper and there's stainless as well and yes it's wet. What could go wrong......
I've no idea. I'm surprised the press hasn't found out yet and published a list of other apartments they built.
I'll say two words and no I'm not being racist.
Chinese steel.
Lots of it around and the problems are extremely well known. It's cheap though.....
That's a comment about doing things properly not about Australian industry protection. No problem if it's from Japan, Germany, France, UK, USA, Canada, NZ, South Korea or any other place that does things properly just avoid the known poor quality stuff.
Then there's the competency of those doing the work. Suffice to say that right at this moment my pet hate is those who should but do not understand, or choose to ignore, galvanic corrosion. It ain't rocket science, it's high school level stuff really, but all too often ignored. Galvanized steel in contact with copper and there's stainless as well and yes it's wet. What could go wrong......
They screw the subbies to the point that you are doing it for wages. In turn subbies don't give a crap. Or you end up with the bottom of the barrel. Happens a lot.As people have already mentioned, even if there is a compliance certificate, it would have limitations, to cover the person certifying it.
The practice of sub letting out the work, is fraught with danger. I had a second storey addition added to my house, it was carried out by a well known company, they subbied out 95% of the work.
If I wasn't there 100% of the time, a lot of corners would have been cut, it really was appalling.
I would never recommend doing it unless you can oversee the project.
SP
We are talking Multi Million Dollar Developments.
Its the way things are done.
That is exactly what I was meaning, it is rampant and no one can pin down responsibility.They screw the subbies to the point that you are doing it for wages. In turn subbies don't give a crap. Or you end up with the bottom of the barrel. Happens a lot.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?