Hi all
Well I have heard some information today and although it is not directly related to property investing if the rumour is true then it will affect many of us.
My husband is a sub contractor for a ceiling company. He works in many different locations and on many different job sites such as water front apartments, schools, housing, convention centres etc. The rumour he heard today was that unions were apparently coming back in under the new Rudd Government. Basically what this means for him and many other sub contractors out there is that there is no more opportunity for working overtime, his hourly rate will be cut by nearly half (but to compensate that he would receive sick pay, holiday pay etc) leaving us with a huge difference in his annual salary. Has anybody else heard this rumour? I understand that if the unions do come back in full force that it won't happen over night but the main thing we were concerned about is the huge shortfall in his salary. We have just signed a contract ( although subjuect to finance) for our second IP which we will be living in for a year before we rent out and if this talk about the unions coming back does come into place then there is no way we could afford the repayments on the new house. I'm sure many others would be left in the same situation as us there fore many people wanting to sell but having to drop their prices considerably due to the supply being greater than the demand! And so it snowballs on from there, people having loans greater than what they can sell their houses for etc…………………I know this is all just a rumour at this stage but has anybody else heard it yet? We are really unsure about going ahead with the contract we have just signed!
What's you opinion on this situation?
Unions and labour go hand in hand – but so does labour, high interest rates,recessions etc.
There is a transcript from a conversation mr costello had just before the election that i found interesting.
I havent heard that particular rumour but it would not surprise me!
I contract to a company which builds child care centres.Not huge projects in their own right. Thats why I thought it interesting that on no less than 3 seperate occassions I witnessed visits at 3 different sites by CFMEU boffins who wanted to tell us "how it's gonna be"… The rhetoric drivel was quite mind boggling. "We're bring back penalty rates, nothing will get finished & no-one will be allowed without our say so". I've heard it before, sadly.
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