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It's not a bottleneck. It's lack of demand from the customer (China). Everyone has a different opinion on whether this is temporary (slow down during olympics and a little manipulation) or demand destruction and a world recession.

Nothing wrong with 8% in this climate. :)

It's not even a case of "Obvious in hind-sight." I try not to get into political mud-slinging but I always thought Howard was putting his own re-election above the Nation's well being. There was never going to be a Snowy Mtns MkII during his time. And there were plenty of ppl telling him but...

So if the "owner" couldn't find the cash the builder gets hissed and forces a sell up. By the time he and the bank have split the proceeds the "owner" has done the lot. If I thought there was any chance of that happening to me I'd run. (Not arguing, just trying to get my head around this.)

How would that play out in practice? Does the house just sit there, unfinished? Hard to see how that protects the bank's interest. That would be scary for the "owner". :eek: