Another one bites the dust:
A global company involved in the construction sector and headquartered in Australia has plunged into administration.
On Wednesday morning, five companies under the banner of LVX Global Group appointed administrators to drastically turn their fortunes around.
LVX is an infrastructure engineering business that offers strategy, engineering and project management in the building sector with its main offices in Adelaide.
It is a daily occurrence as Alboflation tears the heart out of the sector:
It was Albo that left these constructions firms high and dry when he imported too many people too fast, triggering a rush by state governments to build everything from roads to hospitals to try to keep up:
This crowded out home builders as the major projects sucked in labour and drove up its cost.
Worse, Albo also refused to act when the Ukraine war sent local gas and power prices through the roof:
This sent building materials costs to the moon.
So, construction firms are dying like flies just when we need them most, thanks ENTIRELY to the Albanese Government’s macro mismanagement.
The tragic future writes itself:
The fundamentals of housing supply and demand remain out of balance in most regions, placing upwards pressure on the cost of housing.
The supply side of the housing equation continues to be insufficient. As we approach the July 1st starting point for the federal government’s 1.2 million new ‘well-located’ homes target, dwelling approvals are yet to show any meaningful uplift.
“12,850 homes were approved for construction in January, roughly -25% below the decade average and well below the 20,000 average monthly run rate of approvals required to see 1.2 million homes in five years,” Mr Lawless said. “At the same time, the residential construction sector continues to run up against shortages in labour, high material costs and depressed profit margins.”
Homelessness and mass evictions are Albo’s primary legacy.
How this incredibly incompetent PM has any followers left is beyond my understanding.
