CSR an Fletcher polish property turd

Wednesday, 26 June 2019

Two big building suppliers polish up the property turd today. FBU and CSR:

Fletcher really didn’t even bother with much polish:

Fletcher expected Australian residential approvals to drop to between 150,000 – 160,000 in financial 2020, from 190,000 in the year ending June 30. Approvals would then experience a marginal improvement to 170,000 in fiscal 2021 before a rebound to 200,000 in the year ending June 2022.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.