This might be a good time re-inforce the need to know what is happening in the towns that you are thinking of investing in.
In the last couple of weeks abbatiors have closed in Forbes and Mudgee, with a direct loss of employment for about 500 workers between the two of them and probably double that to include supporting businesses.
They are desperatly trying to sell them (abbatiors) to try to get them going again, but this is little comfort for the people (trying to) paying rent or mortages at this point.
These towns cannot re-employ all those that have lost their jobs, although there will be some effort put into retraining, and centrelink is making them aware of their entilements, a BIG comedown in income.
I note the local paper has ads from interstate abbatiors looking to employ them, so the outlook for the regional centres affected, is not as rosey as it might have been.
Sorry to bring this doom and gloom to the forum but PLEASE be aware that the country can have problems.
BC
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