Construction sector insolvencies remain high, with 187 cases recorded in the June quarter—up 13 percent on last year—according to BWA Insolvency.
While down slightly from 192 cases in the March quarter, principal Bryan Williams said project delays, cost overruns, and cashflow pressures continue to cripple builders and contractors.
Stats NZ data also showed construction sales fell $720 million in the June quarter, highlighting the sector’s struggles compared with others.
Williams noted that while some industries adapt through consolidation and technology, construction firms operating on thin margins remain vulnerable, with older businesses in particular struggling to keep pace with AI-driven competitors.
Image credit: Ben Iwara
There’ll be lots of (construction) business vehicles and hi-lux for sale.
And the beamers of the wife.
There real s*** will hit when even those will be off the roads.
Sadly only the tip of the Ardern iceberg that lingers on below the surface
As the after shocks of the great covid wrecking ball reverberate and fragment across NZ
From which many businesses who did survive never fully recovered
Who in their right mind would shut down a countries economy for five weeks?
For one suspected case for a virus that was never and has never been proven to exist
That was constructed on a computer for that very reason then the definition of isolated changed
Backed up by the results of fake PCR Tests to fit the fake narrative
Which is not a stand alone virus but is in all influenza
The great covid hoax and fraud snake oil peddled to the NZ public through fraudulent means by way of paid off experts drooling for funding – fake paid off pocket edition media and gutless fence dwelling politicians guilty if not through tacitness – has come back to haunt NZ and will go down in infamy as NZ’s darkest day eclipsing even Christchurch which was a white wash covered up False Flag Operation proven through online forensic examination and analysis the weapons being involved to be fake replica air guns
NZ is a very corrupt and divided country which we keep getting conditioned and drummed into Us with the notion and lie that it is a democracy
Nothing could be further from the truth
What we have got in NZ is a carefully crafted and co ordinated construct campaign model of separate development – “still alive and well”
Directed at the white race Adamic race through proxies – of the enemy of the white race masquerading as the seed of the woman
Empowered through debt creation and the blunt instrument of a privately Owned and controlled Central Bank
Beware the leaven of the Pharisees and the Sadducee’s
National Labour and their satellite affiliates
Slow gradual hardly detectable but omnipresent and continual change
It’s a bit hard to see how AI has anything to do with the down turn in construction.
Perhaps it has more to do with the unrealistic price of property not matching the earning capacity in the country which excludes anyone who is not already a property owner from owning property.
And then there’s shutting down a country at the snap of the fingers and expecting it to turn back on by decree.
Tis a bubble waiting for a pin.
AI has everything to do with construction
But can never bang in a nail or place a dwang
Depends on what angle You are looking at the construct
Is a robot AI?
Not necessarily but they can be
The overlap between AI and robotics is interesting
The Japanese have developed a humanoid robot called Torobo that can accurately hammer a nail into wood
But anyway get used to the downturn
Every recession is led by a downturn in the building industry. It begins when there is not much on the architects and engineers drawing boards, feeds out to the contractors going bust and working for pennies to stay afloat, then to the kitchen makers, paint shops, flooring suppliers, lighting, haberdashery etc filtering out through society. Fortunately with the lot we’ve got in the beehive at the moment policy makers and bureaucrats are also being included in the mix which is most gratifying.