Hundreds of thousands of towering infernos “unsellable”

Friday, 4 October 2019

Yeh. Via Domain:

Thousands of Victorian apartment owners whose buildings are covered in flammable cladding are paying rates that fail to recognise that the value of their property has plummeted.

One academic has estimated that at least 40,000 properties across Victoria will need full or partial replacement of their cladding.

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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.