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Ace News Room With Kindness & Wisdom Provides News & Views @acenewsservices

AceNewsDesk – For the past two months, with the team here at Four Corners, I’ve been investigating why so many building companies are going broke …………Four Corners: House of Cards is available to stream now on ABC iview or you can read the full story online.

Hi, I’m Stephen Long,……………We started out with a weird conundrum: Australia has a housing supply crisis — with rents through the roof and a lack of homes for a massive wave of migrants — yet building businesses are toppling in numbers not seen for a decade.

What we found is a broken business model: big building businesses on profit margins so thin that delays to the pipeline of work they rely on can be fatal; operators that need a constant stream of new business to pay the bills for work already done.

The spate of failures is causing hardship and anguish to home buyers, and to thousands of tradies denied the money they’re owed.

As we follow the trail, we find both reputable companies undone by events and operators who leave a pile of misery behind them then move on.

The ease with which some game the system highlights flaws in the way we deal with busted companies, and gaps in regulation.

There are ways to address some of the problems and help safeguard hardworking people – if the government has the will.

I hope you can watch it.……………………..Four Corners: House of Cards is available to stream now on ABC iview or you can read the full story online.

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