Distress
Building companies going under, builders revealed as fakes, boomers without a clue and another end of the world prediction missed. Had those christian loons bothered to ask, I could have told them there's only one day the world can end - a Tuesday. More specifically, the first Tuesday of the month. The past few months has produced a constant stream of bad building news in Tasmania. The obvious - dwellings built per person and the doubling of an industry inside ten years - has been ignored. Ok by me, because something else has been revealed - shonks, fraudsters and weasels have been cashing in and now they're being exposed. If you've ever taken a cursory glance at Minsky & Kindleberger's bubble framework, you'll know the forth stage is the critical stage. Where financial distress begins to be revealed and this is also the stage where fraud begins to rear its head... NEW-HOME owners are being left with defective and incomplete houses after falling prey to shonky ...