Property Ponzi model, page-19

  1. 14,067 Posts.
    lightbulb Created with Sketch. 4
    Hi Ano------

    Lots of things are illegal but they happen all the time

    I was renting a house to a builder a few years ago and I talked to him often and he would tell me about his work and he called me at one stage to say he had to break his lease as he was broke !
    When I said what about the six new homes he was building for clients he told me that they all had to be stopped as he had no money

    So he had all the orders but no money, he was robbing Peter to pay Paul in a Ponzi scheme.

    In earlier years when I was a builder I had to have a security deposit IN THE BANK to safeguard my suppliers and contractors if I went broke, this figure was based on the number of homes I built in a year

    Apparently like everything else the building industry has been deregulated to the point there are no qualifications or experience needed and also no government control on what you do --- just look at the Opal tower which allowed people to live ( for very short time) in a building which will never be safe due to no inspection other than "self regulation by foreign firms.

    The government is desperate for money and they don't care who gets hurt in the process a long as they get enough money to throw around on their wasteful political favors
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.