Inside Australia's home building and housing crisis—and the dodgy developers that corporate regulators don't touch.
Inside Australia's home building and housing crisis—and the dodgy developers that corporate regulators don't touch.
Inside Australia's home building and housing crisis—and the dodgy developers that corporate regulators don't touch.
Really interesting episode of the ABC's Four Corners program this week: https://youtu.be/JwqdvttDwUI
Along with the ongoing issues the building industry is facing, including skills and product supply shortages, the episode looks at a dodgy Sydney-based development firm the corporate regulators haven't touched.
"Dyldam was once a towering force. Its apartments still line the streets and light up the skyline of western Sydney.
"But for more than a decade, the Dyldam group has left a trail of misery behind it that includes bankrupt businesses, unpaid taxes, tradies denied payment for work they've done, suppliers ripped off, and anguished apartment buyers stuck with defective buildings — one built so badly it posed a hazard to human life.
"Time and again, a litany of potential law-breaking has been identified by those brought in to clean up the mess left by busted Dyldam companies.
"Yet, for years the corporate regulator, the Australian Securities and Investments Commission (ASIC), took no action."
https://www.abc.net.au/news/2023-07-17/dyldam-apartments-fayad-construction-four-corners/102598590
#housing #property #urbanism @sydney @urbanism @fuck_cars @australia #business #auspol #nswpol #HousingAffordability
The build quality in Sydney (with exceptions of course) is just awful. The standards are low and the workmanship is even lower. The only silver lining is the NSW Building Commissioner who seems to be doing a good job, and hasn’t yet been rolled by developer interests, which is pretty amazing.
@DarkDarkHouse The dodgy developers haven't gotten rid of David Chandler yet, but it hasn't been through a lack of trying: https://www.smh.com.au/national/nsw/the-power-players-are-right-in-your-face-how-david-chandler-took-on-sydney-s-shoddy-developers-20220727-p5b51t.html
(Chandler subsequently returned. He was cleared of the false claims that had been leaked to The Australian.)