punters mustve seen $300M extra budgeted for classrooms on the news last night. and lots of storm rebuilding to do (roads and houses). plenty of work.
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surprising the run up in the stock price but i guess maybe its a oversold bounce ? cant be anything more surely as cycle still going down
A significant downturn is likely for the entire building industry, not just housing
https://www.interest.co.nz/property/...t-just-housing
On the commercial property front the the biggest declines have been in consents for new warehouses and factories.
The amount of new warehouse and other storage building space consented in the first quarter of this year was at a two year low and was down 38% compared to the first quarter of last year.
New factories and other industrial buildings have taken an even steeper tumble, with the amount of new space consented in the first quarter of this year down 57% compared to a the same quarter of last year.
https://www.interest.co.nz/property/...t-just-housing
Still plenty of civil work out there Bull. The cyclone has caused a lot of work. Bridges, roading, rail etc. Brian Perry Civil and Higgins will busy for a long time.
Anyhow, FBU was trading at the bottom of their sp cycle. Now just over book value. Best to buy FBU at the bottom of the cycle.....
Infrastructure resilience - $6 billion
Finance Minister Grant Robertson announced a $6 billion spend, to fund a National Resilience Plan in response to Cyclone Gabrielle and other extreme weather events.
"It was unacceptable that basic lifeline services like telecommunications, power and transport links were knocked out for so long," he said.
Public Housing - $3 billion
Robertson said the Government would build 3000 new state homes by June 2025.
The new public houses were expected to cost $3.1 billion in capital investment, on top of $465 million operational costs.
FBU surely be able to benefit a little from this?
Robertson said the Government would build 3000 new state homes by June 2025.
The new public houses were expected to cost $3.1 billion in capital investment
Umm how do 3000 houses cost over 1m dollars each. We aren't a poor country but I don't think this is feasible
maybe they also need to buy the land to put them on as well? plus pay to create new infrastructure? roads, water, sewage, power; parks, recreation, facilities etc? - i.e. in Wellington you couldn't find somewhere existing to just plonk 400 new homes on - be hard to secure land in existing areas; you might need to buy a couple of farms somewhere, and create a small suburb? - unless you went up: and built towers in and around the CBD?