Adelaide Brighton warns on housing bust

Another building materials supplier bites the dust:

Much worse to come.

Comments

  1. Stewie GriffinMEMBER

    Online real estate broker Purple Bricks is pulling out of Australia:

    “Everyone feels pretty devastated and drained. A few people who don’t have mortgages and are not tied up financially, they took it more lightly,” the NSW-based agent said. “I’m not in a financial position to take a break from work. I’ve got two mortgages and have no rental returns. I feel depressed.”

    Ouch!

    https://www.domain.com.au/news/purplebricks-closure-in-australia-shocked-its-own-employees-835728/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1

    • I was scratching my head why a resource company would be building apartments. Then I saw the name of the CEO. Chinese can’t help themselves with their infatuation with property.