@PeteWargent Combination of factors, non bank cost of capital has risen (senior debt still cheaper but not everyone has access to it, land costs have increased and build costs have gone through the roof with most project sponsors not trusting anything past tier 1/2 builders
@LocantroTony We will be over from Aus in a few weeks seeing family, seems like real estate is cooked also, even more so than what’s been happening in aus in recent times. Can’t end well��