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For those who think inflation isn't an issue, how long the RBA keeps kidding people is the real issue IMO.
[URL unfurl="true"]https://www.abc.net.au/news/2022-01-20/building-industry-crisis-as-major-firms-go-bust/100753440[/URL]
From the article:
More construction companies will fold this year as lock-in contracts leave builders unable to pass on the rising cost of labour and supplies, the Master Builders Association warns.
Two Queensland firms, Privium and BA Murphy, went into liquidation just before Christmas, with customers and subcontractors waiting to find out how much, if anything, they will get from the wash up
Liquidators FTI Consulting told the ABC that Sunshine Coast-based BA Murphy owed almost $11 million to about 550 creditors.

The company's 30 employees were owed more than $400,000.

BA Murphy also had 50 unfinished building projects across Australia, including 21 in Queensland, 18 in Victoria and about 11 in New South Wales.

Meanwhile, the final amount owed by Privium is likely to be more.
The company has 831 unfinished contracts around Australia and records show a $28m dollar loss in the 2020 financial year.

Sunshine Coast regional manager for Master Builders Queensland, Nicola Scott described the collapse of BA Murphy as "absolutely devastating".

She said the prices of supplies, from timber and steel to plumbing and tapware, had risen substantially over the past 12 months amid increased home building demand globally.

"I think it would be a miracle if somebody wasn't affected by that, because they're continually having to absorb the cost," Ms Scott said.

Lawyer Steven Burton deals with builders trying to adjust or get out of contracts.

As a partner in the Construction and Infrastructure Group at Holding Redlich, he said he was seeing a growing number of builders struggling with prices of supplies and labour.

<blockquote data-quote="sptrawler" data-source="post: 1156403" data-attributes="member: 28038">For those who think inflation isn&#039;t an issue, how long the RBA keeps kidding people is the real issue IMO.[URL unfurl=&quot;true&quot;]https://www.abc.net.au/news/2022-01-20/building-industry-crisis-as-major-firms-go-bust/100753440[/URL]From the article:More construction companies will fold this year as lock-in contracts leave builders unable to pass on the rising cost of labour and supplies, the Master Builders Association warns.Two Queensland firms, Privium and BA Murphy, went into liquidation just before Christmas, with customers and subcontractors waiting to find out how much, if anything, they will get from the wash upLiquidators FTI Consulting told the ABC that Sunshine Coast-based BA Murphy owed almost $11 million to about 550 creditors.The company&#039;s 30 employees were owed more than $400,000.BA Murphy also had 50 unfinished building projects across Australia, including 21 in Queensland, 18 in Victoria and about 11 in New South Wales.Meanwhile, the final amount owed by Privium is likely to be more.The company has 831 unfinished contracts around Australia and records show a $28m dollar loss in the 2020 financial year.Sunshine Coast regional manager for Master Builders Queensland, Nicola Scott described the collapse of BA Murphy as &quot;absolutely devastating&quot;.She said the prices of supplies, from timber and steel to plumbing and tapware, had risen substantially over the past 12 months amid increased home building demand globally.&quot;I think it would be a miracle if somebody wasn&#039;t affected by that, because they&#039;re continually having to absorb the cost,&quot; Ms Scott said.Lawyer Steven Burton deals with builders trying to adjust or get out of contracts.As a partner in the Construction and Infrastructure Group at Holding Redlich, he said he was seeing a growing number of builders struggling with prices of supplies and labour.</blockquote>

[QUOTE="sptrawler, post: 1156403, member: 28038"] For those who think inflation isn't an issue, how long the RBA keeps kidding people is the real issue IMO. [URL unfurl="true"]https://www.abc.net.au/news/2022-01-20/building-industry-crisis-as-major-firms-go-bust/100753440[/URL] From the article: More construction companies will fold this year as lock-in contracts leave builders unable to pass on the rising cost of labour and supplies, the Master Builders Association warns. Two Queensland firms, Privium and BA Murphy, went into liquidation just before Christmas, with customers and subcontractors waiting to find out how much, if anything, they will get from the wash up Liquidators FTI Consulting told the ABC that Sunshine Coast-based BA Murphy owed almost $11 million to about 550 creditors. The company's 30 employees were owed more than $400,000. BA Murphy also had 50 unfinished building projects across Australia, including 21 in Queensland, 18 in Victoria and about 11 in New South Wales. Meanwhile, the final amount owed by Privium is likely to be more. The company has 831 unfinished contracts around Australia and records show a $28m dollar loss in the 2020 financial year. Sunshine Coast regional manager for Master Builders Queensland, Nicola Scott described the collapse of BA Murphy as "absolutely devastating". She said the prices of supplies, from timber and steel to plumbing and tapware, had risen substantially over the past 12 months amid increased home building demand globally. "I think it would be a miracle if somebody wasn't affected by that, because they're continually having to absorb the cost," Ms Scott said. Lawyer Steven Burton deals with builders trying to adjust or get out of contracts. As a partner in the Construction and Infrastructure Group at Holding Redlich, he said he was seeing a growing number of builders struggling with prices of supplies and labour. [/QUOTE]

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