Quote:
Originally Posted by strongmanmike
Thankyou Bo, there a lot of Aussies living in a cloud of bullcrap about how bad it is here - many of them supposedly intelligent too.
Of course these same people will not read your link either 
Mike |
Sorry Mike but some sectors of the Australian economy are suffering. The building industry is where my income resides and here are some cold hard facts.
I am pricing work at pre 2006 prices and still in the middle of the prices. If I go lower I will be pricing work at below cost and that is just plain stupid.
There is not enough work available to all contractors and this has created the situation above where people with high debt are trying to win anything just for turn over. That turn over is just supporting the payment of interest. Those of us with no debt cannot win work because of this situation. There is low investment in the industry right now because of the world situation and since the GFC investment has been well below average. That crushes an industry.
I have personally won two jobs since November 2009. We have lived on savings and my wifes income since then. Fortunately we don't have a lot of debt, but I don't have an endless supply of savings either. I have a high savings ethic and saved during the good times, but those need to start happening again.
My story is just amongst many in the industry and there are people I know going to the wall. So while it may not seem to you that anything is amiss, please consider that there are many aspects of our economy that are currently suffering. If not nationally but certainly regionally. It is bad and will get worse in my industry in the next two years if things don't rapidly improve.