Australia housing bubble

[Citroënbender]

Originally Posted by John 13

WA government effectively bailing out large over committed "builders" in order to get homes completed. Appears that some MAY have used a pyramid scheme; over committing, tying up customers with contracts and then using new customers deposits to fund jobs in hand.

Who’da thunk it? Builders front-loading contracts to finish prior jobs.

I’m not sure if it’s technically a pyramid scheme but quite likely trading insolvent.