A lot of construction company have filed for bankruptcy due to a variety of reasons, such as heightened competition from online retailers and discount stores, a decline in sales, and the impact of the COVID-19 pandemic. The company's strategy for recovery involves a restructuring plan that concentrates on its most profitable stores to enhance its financial standing. As for your financial objectives, it is admirable to aim for a portfolio worth no less than $850,000 before you reach the age of 65. If you're interested in potential investments, seeking guidance from a financial advisor could be beneficial.
@Franklin-gq4si
13 күн бұрын
There are numerous intriguing stocks across various industries that might catch your attention, but it's not always advisable to act on every prediction. Therefore, I suggest that you work alongside a financial advisor who can help you determine the best times to buy or sell the shares or ETFs that you are interested in.
@williamDonaldson432
13 күн бұрын
I have maintained contact with a financial analyst since the inception of my business. In today's dynamic market, the challenge lies in determining the opportune moment to purchase or sell when investing in trending stocks, a task that may seem straightforward but can prove to be quite challenging. With a portfolio that has increased by over $900k in a relatively short span of 2 years, I have delegated the responsibility of selecting entry and exit orders to my advisor.
@foreverlaura-fq4eu
13 күн бұрын
@@williamDonaldson432 I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?
@williamDonaldson432
13 күн бұрын
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@CharlesArthur-fq5sx
13 күн бұрын
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
@davegiles2120
Ай бұрын
As an older builder that has walked away from the industry I have seen so many changes over the years in how tradies work. I'm old school and the quality of my work is my reputation. I left the industry because more and more I was finding that my care and attention to detail (and building codes) was being frowned upon and criticised. Cutting corners and using inferior labor has become the norm. I found that I was the odd one out in an industry I no longer recognised. There is no one that will take responsibility for a job anymore, all the way up to the inspectors and regulators. The system is so clogged up with complaints and claims that it takes many many years to get any sort of reasonable outcome. My advice to anyone looking at buying a house, go for something older built back when the industry actually cared. So sad, I never throught this would happen in my home state of Victoria.
@r.mhaych5021
21 күн бұрын
That for the most part is true but I am an owner of a bricklaying company that prides ourselves on quality and meeting builders expectations. Unfortunately for myself I do find myself being somewhat of an outlier when it comes to this and like you it makes me want to somewhat throw in the towel given that I get criticised for wanting to be paid what I am worth. The builders want to pay peanuts but expect quality. It doesn’t make sense. I’m one who DOES take accountability even if it is someone in my crew who f*cks up I make it a point that I fix it myself in a short turn around time more times than not fixing it for free too. So speak for the ones that are shit but I know I’m not one of them
@paraustralia
17 күн бұрын
I’m a landscaping company owner and I get the same problem as you guys. We focus on quality jobs, but clients often go for the cheapest and tradies that cut corners all the time… In the meantime labour costs more, insurance costs more, bas statements, work cover costs more, about 15 different types of leaves, paternal, maternal, carers leave, compassionate leave, domestic violence leave, super, holiday pay, etc… Plus sometimes we have to compete with cowboys from Airtasker or Hipages… The industry is broken…
@thanhpham1647
12 күн бұрын
As a young immigrant in the 90s, I still haven't forgotten the motto from the older Oz generation...do it once, do it right. This seems non existence nowadays
@MrBoysOG
12 күн бұрын
same here in WA my father is like you, and he is always being told hes expensive or takes too long. when in actual fact the managers just want the material slopped into position so they can move on to the next job
@TheAgeOfTheWolf
12 күн бұрын
How old should that house be? What decade did it start going downhill?
@brett_flower
Ай бұрын
You need to go waaaaaaaaaaaaaaay back before 2020. The coalition decimated TAFE funding from 1996 through to 2007. Less than 10 years later - huge lack of tradesmen and skilled labour. No coincidence. More demand than supply with labour - more expensive builds for lower quality homes.
@MrAnderson3
Ай бұрын
I'm a refrigeration mechanic and did my course back in 2012 and my TAFE class was the last Australian class the school offered then they only focused on international students because the fees were 10x the price. So basically any Australian apprentice had to find education elsewhere
@DuoTax
Ай бұрын
Thanks for sharing your perspective!
@George-xb5ey
Ай бұрын
Jeff Kennet the rat
@abettermankind9761
Ай бұрын
@@George-xb5ey Don't stop at Jeff Kennet...
@margyrowland
Ай бұрын
In my day the state government trained tradesmen by employing them in government bodies such as the E&WS.
@ricecrash5225
Ай бұрын
And how many of those, who didn’t pay subcontractors are back trading under a different name ?
@Carrotsalesman
23 күн бұрын
It'd be over 90% of them, and for the most part it would be the third or forth time.
@burtdeernie
16 күн бұрын
Subcontractors do the same thing.
@philpreston3072
Ай бұрын
You left out the "Dan Effect". Construction crisis coincided with Dan's big build, building masses of ambitious rail tunnels, road tunnels, rail crossing removals, usurping construction workers away from housing and highrise apartments and driving labour costs way up
@Navigator-apex
Ай бұрын
Agree, the rail loop is one big waste of money, adding to the the $180b+ debt.
@zodiark2456
23 күн бұрын
@@Navigator-apex I know this will sound rude, but I wish all the over-serviced city dwellers would STFU about Suburban Loop.
@zodiark2456
23 күн бұрын
@@Navigator-apex Oh no something isn't specially for me! Well it's stupid and pointless and they should have everything to be beneficial to me and me alone!"
@t-dog8528
Ай бұрын
Unions are killing it too, ask Georgieo
@rogersliu1200
Ай бұрын
😅I saw those guys on job site absolutely bs
@sallyjohnson5985
Ай бұрын
Too scared to build a new home with the lousy standard of trades work and the absence of an effective government watchdog. Risk of complete disaster is just too real!
@NoRegertsHere
Ай бұрын
Exactly!
@arx400
Ай бұрын
Absolute junk is being installed in new homes
@bobarbkiesa
Ай бұрын
I have worked as a builder since 1965. A major comparison change I have seen and not talked about is: WE are paying for a piece of paper (Qualification) instaed of a skilled person. "Paid for what you produce "was the deal in the past ,now it is more like " you gota pay & pay me $X because I have the paper" . PRODUCTIVITY! should be our focus. Instead of giving up and going bust.
@Bigdogplumbing2024
Ай бұрын
Bloody oath you should pay for a bit of paper I know there are some shocking plumbers out there but I see first hand what people do with out qualifications Pumping raw sewage into our waterways Putting bores right next to treatment plants, or cutting floors up in brand new homes because the partner though he would do the under slab, how hard could it be it’s only LEGO. As I own a plumbing company it’s not just about the paper but who you are as a person all my crews are hard workers and reliable, yes the cost has good up but that’s world wide arm not much we can do but yes the quality of new homes are disgusting and I have nothing to do with them. My company is booming but it’s not about going big but what we can do to help in the community and be a strong role model for the younger generation. I’ve had a multiple builders speak to me like a peace of dirt when I worked for other company’s, for not meting time lines it’s not my fault I’m trying my best to rough in and do a hole house sewer on my own, that a lot of plumbers do . They think there above every one. If one of you spoke to me or my workers like that it would be delt with very swiftly and fast. The hole building industry is a joke and in QLD qbcc can like me where I shit, another organisation who gives me red tape every day pushing the cost up for no reason
@moviesynopsis001
Ай бұрын
Ahh yes, just let builders run wild without any needs to follow standards or regulations.
@lil_bingus
22 күн бұрын
@@Bigdogplumbing2024well said
@dudemanismadcool
19 күн бұрын
I have no experience building, but I am good with my hands and at following instructions. Should I just build my own house?
@AUThePunisher
Ай бұрын
Ponzi Australia economic model based on high immigration, house and holes is worn off. From now on is down the hill to save the Ponzi.
@DarkVader-jj4dt
Ай бұрын
I've watched the TikTok inspector, little wonder the construction industry is collapsing.
@Harrybollox
Ай бұрын
I would not build or invest in building. multiple layers of government have so many rules, regulations, taxes, duties, red tape, legal hoops , environmental requirements, the list of hindrances introduced by governments is literally thousands of pages long in various and many publications from electrical to plumbing to construction etc. . just that is enough to say too much risk before we even think about all the other factors.
@thomascarne3360
Ай бұрын
Good effort but you're numbers are way off. Labour is up a min of 50% as well lowering productivity. Suppliers are holding prices or continuing to rise. The construction industry is in a lot of trouble. This goes back 25 years of underinvestment in building labour and homes. Australia is in for a lot of pain.
@peterhowell2980
Ай бұрын
At the core of most of these insolvencies, you will find the ATO . All going to plan .
@skuzzles7467
13 күн бұрын
I work around insolvencies. The ATO is an unsecured creditor that gets lower priority than trade creditors (they're pretty much paid last assuming anything is even left to pay with). Those companies that liquidated will have had their tax debts completely extinguished. As a revenue collecting business, it doesn't benefit the ATO to not be able to collect money. I'm pretty sure they have to report to Treasury all debts they write-off which doesn't look good. To me it feels like we're in a situation where everyone loses - the builders not making profit, the subbies not getting retentions, the customers not getting a product, the govt not getting their 'cut', lenders for risky loans, etc. I suppose suppliers can maintain their margins. Eh. What do i know.
@DirkDiggler_18
Ай бұрын
great video! also labor funding the cfmeu to unionise the industry and muscle the small construction companies - higher pay, incentives / sick pay etc / apprenticeship pay increases .. list goes on... Who you need to use to do your pours etc
@DuoTax
Ай бұрын
Thanks for watching! You bring up some important points about labor issues and industry regulations. It’s definitely a complex situation with many factors at play. Appreciate your insights!
@SHARKCAT23
Ай бұрын
you talking about the cowboy companies with zero safety out for a fast buck.,who needs them ,id rather be on CFMEU site and day of the week.
@mikec6264
Ай бұрын
Rubbish, monopolies did this. How can concrete go up twice in one year?
@Shallowchal
18 күн бұрын
15 years running my own building business - governments your problem. It’s all government created.
@BB-pf2cs
Ай бұрын
Would be great if the government was cracking down on companies not paying subbies and completed jobs in general!
@rod-contracts1616
Ай бұрын
For the first 15 years of my QS working life up until the mid '80s around 30% of our time was spent preparing "increased costs claims." Fluctuations clauses as they were known were fixed in the 3 main standard forms of contract here in New Zealand, then dropped when rampant inflation was tamed during the 80's. I'm sure this was so across the UK based law systems including in Australia. Some things change some do not. Contractors have long been squeezed by clients, consultants, cycles, and construction market forces due frankly to foolishness of contractors themselves individually and collectively. The past 2 decades the change has been mass immigration so house supply not keeping up thus ridiculous house price increases, underpinned by stupid land prices, with increased development and building costs making it more precarious. Simply, without sky high house prices, rising faster than inflation, development is not viable. Clearly this has its ceiling before - crash, thud! Could write a book about it all. Yeah, nah!
@DuoTax
Ай бұрын
Thank you for sharing your insight! Your experience in the past is priceless!
@jeanleota6543
Ай бұрын
No staff and if you get them, too high labour. High building costs and delays in every sector
@DuoTax
Ай бұрын
You're right, the construction industry is facing major challenges. These issues are making it tough for everyone involved. Thanks for sharing your insight!
@Navigator-apex
Ай бұрын
...and the staff they are getting don't have the right skills and yet award them with the qualifications to start work.
@mrmoneyhacks5480
Ай бұрын
What's important is that the government not bailout construction companies right now. This is a once in a lifetime chance to boost house prices sky high right before boomer retirements. A one final FU from them before they go.
@franklinchoi9856
29 күн бұрын
Too many council new regulations and fees to be approved before building starts working
@mandyspacek1087
Ай бұрын
This is on your watch uncle Elbow, you won't last long, one term at best
@mikec6264
Ай бұрын
Rubbish this started 12 years and more ago
@mikec6264
Ай бұрын
Rubbish this started 12 years ago
@jfern6673
19 күн бұрын
If you are a tradesman, youll find you wont be able to afford that very house you are building, no matter which suburb you are in.. No wonder people have no care to be building houses anymore
@anitacohen8753
Ай бұрын
Commonwealth Bank of Australia has increased its cheque withdrawal rate for customers from $15 tp %39 per cheque. A 100% increase in one go!
@antontsau
Ай бұрын
with interest rate 6% (and banks score loans with buffer, at 9-10%!) and inflation (materials, labor) about 20-30% such a longgoing business processes like construction have imminent problems. Big thanks to our beloved government, wasting money and simultaneosely destroying economy (energy, manufacturing, materials) with green BS.
@mattyk82
Ай бұрын
the "labor shortage" is really down to one thing. The skilled tradesmen are walking away because they can earn better money doing other things.
@boz123lol
10 күн бұрын
You also need to address the evaporation of trust in the construction industry. New homes are built with the same quality as a Big Mac at 2am, meanwhile under skilled builders with zero ethics are putting their grubby hands out for +30% more money
@R.E.A.L.I.T.Y
Ай бұрын
Because Businesses products wages are TAXED LIKE FK but LAND ISNT. TAX LAND & all other natural monopolies & untax Businesses & Work & abolish GST.
@Larimuss
Ай бұрын
Expensive land, expensive cost of living, so expensive wages, people cant afford to feed their family as a builder, material expensive, council expensive.
@iliapitaoi6268
Ай бұрын
😢Its the Negative Gearing, so RealEstate to bif up the prices, end-up with less constructed property.
@DuoTax
Ай бұрын
Thanks for your contribution!
@NoRegertsHere
Ай бұрын
Negative gearing increases the amount of new stock. In any case, it’s a $20 difference per week to the landlord/investor. You’ve been drinking the koolaid unknowingly because it sounds like it would explain things. This video actually goes into detail about the nuance of what’s happening. Summarised: - Covid restrictions interfered/decimated the market causing shortage of labour, supply shortages, material costs, in turn inflation/interest rates increasing - ppl needing to commit to 2 year builds are spooked. Prices can’t be locked in and there’s no guarantee they’ll get loan approval - only people with huge capital can afford to take the risk. There are also significant contributing factors with state and local governments in infrastructure planning and zoning laws. Ie: higher density housing from 1400m to 700m to 350m is great, but infrastructure needs to support higher number of people living in an area and using roads/water/power/public transport. Negative gearing if anything has a net positive to housing supply. When the government, who has a history of flip flopping on tax policy (after promising not to), people who need to make long term investment decisions will pay very close attention to rhetoric and attacks on their chosen investment strategy (negative gearing, franking credits/double taxation on dividends). This delays amount of ppl who would otherwise build right now. And when combined with the rest of the stuff mentioned, it’s a perfect storm. Government mismanagement has caused the problem. And is interfering in individuals trying to solve the problem.
@margyrowland
Ай бұрын
Decades ago the SA state government trained tradesmen by employing them in government organisations such as the E&WS. Nothing else has been so successful.
@heykevwhatyouup2
Ай бұрын
I was talking to a manager once on the Optus stadium build he said construction companies price at cost to win the job and then load up variations to make there money if you priced a job to make money you will never win a contract
@adrianskinner5676
12 күн бұрын
Therein lies a culture problem. Started long ago. Why must we go the cheapest quote? The dearer one might be more accurate. No due diligence by govt etc.
@AlCapone71
Ай бұрын
There are many builders liquidating companies to avoid paying huge tax bills and subcontractors and suppliers. Corporate laws are rubbish in Australia
@coopsnz1
Ай бұрын
wrong net profit shit 3%
@Lifeperhour94
11 күн бұрын
It doesn’t help how dodgy the construction industry is. From the unions to the companies themselves being dodgy as hell.
@mikec6264
Ай бұрын
Firstly LNP=ALP Covid stimulus $90B went to big business executive bonuses Monopolies in materials are increasing cost of building Australia is not producing glass, steel, aluminium products Lack of trades people due 12 years of no investment in education Tax system increased demand, your hairdresser is a developer Poor quality of building Design costs increasing due to new laws in NSW Foreign superfunds buys up Sydney domestic property Foreign ownership laws non existent, where did this money come from
@NoRegertsHere
Ай бұрын
It’s ok if a business owner, like a hairdresser or anything else, wants to diversify or try something. Property development is a tough business, but lower tier investors are the ones building subdivided duplexes which create extra houses in area of demand. That’s something that is needed. Everything else I pretty much think is where I sit too. It’s only cashed up entities who can afford to take the risk of weathering this perfect storm, hence why super funds are getting involved a lot more- customers are asking for it too.
@mikec6264
Ай бұрын
@@NoRegertsHere that’s why there are so many issues with these buildings, waterproofing, facade issues, structural issues, and finishes that fall apart. I’m all for diversity but not when insurance is going through the roof, impacting everyone. In effect I’m paying the hairdressers mistakes.
@hermesliteratus882
11 күн бұрын
Anything built after 2000 is a no-go.
@lovechineseforeverever2
Ай бұрын
NO CHINESE LABOUR INVESTMENT BUILDERS SINCE AUSTRALIA DE COUPLE FROM CHINA
@mistercut8331
Ай бұрын
what more inflation
@mastermo5aic
15 күн бұрын
I'm building my own and I just a old school tiler.
@pafsrh4744
Ай бұрын
very interesting
@mocka3319
18 күн бұрын
The logistics of the industry is the problem. Too many false promises to customers and not enough time planning how to execute a build logistically. Too many managers want it all now now now! Customers want their builds quicker? Invest in pre-fab for common components (like the Chinese do), use warehouses (rather than relying on ALL components to arrive on site the same day as building), there are so many things these overpaid white collar idiots can do but choose not to. Paid a fortune to stuff around using Grade 9 formulas in Excel and manage the company via Outlook all day.
@greghermangreg8140
15 күн бұрын
I have a floor sanding / supply business in Sydney after 32 years i`m shutting down / people have no money
@manjujayawardana
Ай бұрын
This Labour government selected to get Australia poor country. They work towards it. See the result now.
@NoRegertsHere
Ай бұрын
You give them too much credit! They actually think they are fixing problems. It’s just that they’re incompetent.
@cthorno2991
Ай бұрын
Builders are up there with used car salesman. I feel nothing for these rip off merchants.
@coopsnz1
Ай бұрын
net profit 3% you dont know shit
@mikelundberg6550
Ай бұрын
And sadly it’s only going to get worse for Australia that has an accomodation shortage! 1. Building Materials are going to keep rising in cost, IF the U.S. and Europe continue with their economic war with Russia and China and don’t restore relations quick smart! That’s something Australia can not control! 2. Almost every Allied Nation’s population including China is ageing fast. Example China’s population is expected to drop from 1.6 billion to just a billion people over the next twenty years! Population figures will drop for the USA, Uk, Australia, France, Italy, Japan and many other countries in the next twenty years with more elderly people and NO WORKERS, which means tradies will be in high demand and labour costs will be even higher! ✅
@chrisgrys3641
Ай бұрын
@mikelundberg5660 Depopulation don’t you know what Klaus schwab and Billy have in their mind
@mistercut8331
Ай бұрын
ridiculously high immigration is destroying the Australian dream
@TOMASbarry1916
Ай бұрын
1,700 or 17,000 you were a bit misleading
@lhaneyleofa4558
15 күн бұрын
follow the money, when youre over leveraged and the powers that be throw a bat at you then pull the rug out theres only one place to go
@SHARKCAT23
Ай бұрын
Whar are u talking about, the CFMEU caused all these problems lol
@MrBoysOG
12 күн бұрын
yeah its not the banks and financers or corruption at the highest levels of government its the CFMEU lol. do you hear your self?
@teatree6228
Ай бұрын
Victorian government massive over priced infrastruture splurge was competing for tradies. Tradies charge more as a result and they can pick and choose. This buys voted from traditional labour vote base - unions
@NoRegertsHere
Ай бұрын
And if government gets involved in building of housing stock, they’ll suck up more tradies and allocate the resources to areas that aren’t supported by price signals. Meaning very inefficient building in areas where the demand doesn’t justify the type of accommodation being proposed.
@toneabet6252
15 күн бұрын
How come the country just gets worse and worse under the Labor/Liberal system?
@MrSunnyuber
Ай бұрын
1700 or 17000 ?
@geoffgeoff143
Ай бұрын
You look like an AFL goal umpire
@user-ll6ud2uj1m
Ай бұрын
No good university or Tafe teachers, that's why we have to depend on migration all the time.
@71Jay17
14 күн бұрын
A lot of bs in this video. Getting material quotes and ordering can be done in a short term, with no unexpected rises. contracts constructed to require material requotes outside of maximum quoted timeframes. Not rocket acience
@zatoichison6420
Ай бұрын
Just politics, today bankrupt, tomorrow new name company opened.
@ASXStockPicking
Ай бұрын
Dodge buildings, high profit, make up bankruptcy, open a new company on others name. Rinse and repeat
@russelburton6497
Ай бұрын
Cut there hourly rate by 50% and there still making twice the average wage. A low income earner takes home $560.00 a week and a tradesman chargers $880.00 a day to work at your house.
@barrysims8143
Ай бұрын
That’s because governments charges Russell ask a builder my son has to pay $82 an hour before he gets anything
@NoRegertsHere
Ай бұрын
Larger supply of tradies will bring down prices too. This video explains that.
@user-ro7ik4gt5y
Ай бұрын
The Rothschild's
@MrBoysOG
12 күн бұрын
the real owners of Rio Tinto
@kelvinjames6344
29 күн бұрын
Lithgow and penrith and whalan and bidwill and emerton and shalvey need immigrants to improve the place buy a house thier
@zpe1200
Ай бұрын
sold too much steel to china?
@coopsnz1
Ай бұрын
building a 3 bed 2 level home cost 700k now , my parents luxury 3 level home cost 2 million to build ! a mansion being built in kellyville 8 bed room will be 2.5 million
@danysl2008
Ай бұрын
When Aussie politicians ceded their right to US and followed the theme of anti China. The land of dream became a land of hell.
@XC-Z-cv8qw
Ай бұрын
Lol, this is just building and construction companies taking people's money, giving it to their supplier mates, and then saying the prices are too high and we need to file for administration. All the while their mates have gotten all the money and can share it back to them. These guys only make some builds to look like they are a legit business. The directors then move on to set up new companies. Rinse and repeat.
@coopsnz1
Ай бұрын
no they dont left lair you know nothing about business ! it cost 700k to build a 3 bed 2 level home because of government greed
@cyclops74air11
19 күн бұрын
Liberal PM...
@huynhtran7140
22 күн бұрын
Companies filed bankrupt to avoid tax.😂 🎉
@coopsnz1
Ай бұрын
rego a truck now $11000 now because of labor 10% carbon tax
@ExistentialMan
27 күн бұрын
Tradies overpaid, builders exponentially overpaid. Let it all collapse. Ill just import kit homes.
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