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Another Building Company Collapse · The Slippery Slope

• 0:05
  Hi. I'm Jay felon, and thank you for
• 0:07
  listening to the slippery, slope it before I get started.
• 0:10
  Please like, and share this podcast if you enjoyed, if you
• 0:14
  listen to it, the really do appreciate it.
• 0:17
  Now, this next article that I'm going to read to you,
• 0:20
  unfortunately, we see this type of headline in Australia
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  repeated way too much. And it seems to be just a
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  constant head line coming through.
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  And it's disgusting yet another collapse of a building company
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  here in Australia, this headline here, says that Oracle homes
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  collapse leaves, family homeless, but Master, Builders
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  hopeful Insurance scheme will help hundreds.
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  So this is talking about it or a specific family.
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  But look, I only heard about this company going under, just
• 0:53
  this morning. This article goes on to say
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  that. A grandmother says her family
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  will be homeless by End of the week because of the collapse of
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  Queensland building company, Oracle homes, liquid itís,
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  estimated 300 homeowners in Queensland and New South Wales
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  have unfurnished poems, but Industry Group Master, Builders
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  say those affected should be covered for up to two hundred
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  thousand dollars from the statutory home warranty
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  Insurance scheme. So Carrie Matthews said her
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  house In the hunter, Valley in New South, Wales was supposed to
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  be finished in July, but it is only half completed despite the
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  family already paying Oracle homes.
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  For 85% of the build. She said she had sold her
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  current home. And we're handing over the keys
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  to the new owner on Monday. My husband myself, and my
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  daughter and my three grandchildren will be homeless
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  on Sunday. Ms Matthews said, listen isn't
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  this, isn't this way more typical of these Darling family
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  than it used to be how it's you know, the grandparents that the
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  the children and the grandchildren all living under
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  the one roof. This story seems to be repeated
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  again and again across Australia families living together, which
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  isn't usually or never used to be the custom in Australia.
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  Anyway, so it goes on to say that I've cried a River of
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  Tears. I'm angry.
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  I can't believe that people can do this to people and get away
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  with it in his mouth. Matthews and her husband, Paul
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  signed a contract with the completion date of July 26.
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  She said the company never gave them a complain.
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  You completion date. Despite the contract, requiring
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  them to provide one within 10 days in the weeks before.
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  It went into liquidation, Oracle homes, would not return the
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  family's calls. According to mrs.
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  Matthews. I thought you mongrels you've
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  known this. She said we've sold a house
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  because Oracle didn't change our date.
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  Couple lived with the adult daughter, Melissa who was a
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  heart condition as well as three grandchildren and we'll need to
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  move in with relatives while they search for a new Builder.
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  My husband can't retire. We thought we were going to own
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  it, we're not going to, it's just wrong.
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  So Oracle building corporation, which trains as Oracle Platinum
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  homes and Oracle Hunter homes went into Liquidation on
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  Wednesday, with 70 staff terminated immediately and no
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  further building works. To be undertaken by the company.
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  So, in a statement, the Liquidator said they understood
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  the total creditor claims may be in the vicinity of 14 million
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  dollars. And about 300, homeowners
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  potentially affected some Master Builders Queensland, chief
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  executive. Paul did well said, homeowners
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  should be covered for up to two hundred thousand dollars by the
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  safety. Net of the statutory home
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  warranty Insurance scheme, mr. Bidwell said it would take
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  longer for house, has to be completely.
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  But this should be should not be any Financial strain.
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  When the contract Parker, I'll just stop there.
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  When he says there should not be any Financial strain.
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  We all know that is not the way this is going to play out for
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  every individual in. There will be Financial strain
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  because they will be other bills coming in and you already down
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  the money and like this family here, you need to find somewhere
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  else to live, you know, if that's not Financial strain.
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  What the heck is anyway, goes on to say, Say when the contract is
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  signed, the insurance premium is paid by the Builder and
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  ultimately by the homeowner. He told ABC radio Brisbane, but
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  that doesn't mean there's going to be any fun for those
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  homeowners during that process in Queensland.
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  I'd say that I'm quite confident that there will be some pain,
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  but ultimately, their houses will be built.
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  I think that's a, that's an understatement of stupid.
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  Well, so he also claims, he says that claims could be made
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  through Queensland building and She commissioned a new Builders
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  would be organized. So further on in the in the
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  article almost two years on from signing a contract with Oracle
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  homes, Grant Beck said construction had barely begun on
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  his and his wife's home in the singing Rim south of Brisbane
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  mr. Beck that said they had received
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  two price variation request to complete their home totaling
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  more than one hundred thousand dollars in additional payments
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  to cover issues including price Rises.
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  And supply chain disruptions. So this is, this is the bigger
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  picture problem. Like I said, we've seen these
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  kinds of headlines again, and again here in Australia and
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  obviously overseas, you know, countries like China.
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  We've seen these major building corporations collapsing, and
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  it's constantly this this claim, it's, it's the supply chain
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  issues. It's, you know, price Rises that
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  are that are way out of these building companies hands.
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  And I do believe that that is the problem.
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  Don't like it when everyone starts blaming like on the news
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  this morning. They start talking about the
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  Ukraine war and how you know what's happening with Russia and
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  Ukraine. Well, this is part of the
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  problem is that the think? Well, this has been going on for
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  a while and also, you know, we can't always just blame Russia
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  our leadership. And I know we've had a change of
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  government, you know, since the Ukraine war has started, but the
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  leadership globally could see these things coming down.
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  Down coming down the line, we've seen for months and months.
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  Actually, I think it's been over a year.
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  Now, we could see supplying Che supply chain disruptions would
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  be affecting the glow and yet. No one has taken any action to
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  try and stifle this problem to try and fix the problem.
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  There's not been one leader stand up and fix the problem.
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  It seems like it almost seems like China is, is The problem
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  was with the supply chain and not allowing ships, not allowing
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  ships to move freely. You know, and things like
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  they're silly. This Italy covid policy where
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  they want some zero infections and they don't allow movement
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  throughout their country in Australia.
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  We've seen these things coming down the line like I said, and
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  yet again we've got another government.
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  That doesn't seem to want to take decisive.
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  Action. This is what happens when you
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  have this Reliance on other countries.
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  And yet, we ourselves could Supply.
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  We could get most things, we could make most things in our
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  country. But no, we decided we wanted to
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  go the cheap route and get products from China and other
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  countries where they make it. You know, with basically slave
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  labor and this is the consequence of those actions.
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  I feel very, very sorry for the for the Murs that are feeling
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  this pain. I actually feel sorry for the
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  building companies as well that are going under because all the
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  families, you know, the people that they support, they employ
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  who get thrown under the bus, however, we could see this
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  coming. When all you want to do is try
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  and save money, could are cheap products, instead of thinking,
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  long-term and making products in Australia in our own nation.
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  And this isn't just the problem of Current governments and
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  governments just one or two, you know, one or two generations
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  ago. This is been a long-term problem
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  brought about by governments decades ago.
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  This is a bit. This has been a problem of our
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  own doing and now people like Carrie Matthews or Grant Beck
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  unfortunately a paying the price.
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  Because we want to send our their work overseas.
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  Basically, for the cheap, we're paying the price of our past
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  sins. Basically, unfortunately, that's
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  my opinion. Please let me know what you
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  think, but that's my opinion. Thank you for listening to the
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  slippery slope.