Anger erupts as cracking apartment owners left destitute and bankrupt

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Yesterday was the first day of the inquiry into NSW building standards, which was set up last month after major faults appeared in apartment buildings such as Mascot Towers and Opal Tower.

The inquiry heard tails of woe from owners of apartments in the Mascot Tower, who have been left destitute and facing potential bankruptcy. From The SMH:

Vijay Vital, who was evacuated from Sydney’s Mascot Towers on June 14, was overcome with emotion…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.