The bust in Sydney's building industry is no bloodbath

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Perspective: Drop the word “bloodbath” into your media release and you can pretty much guarantee headlines, but is it true? | emfarrelly

of Pyrmont, strewing Darling Harbour , Wentworth Park, Ultimo and the existing fish-market site at Blackwattle Bay with dozens of potential towers up to 50-plus storeys.

Eagerly applying that tired old bean-counter epithet “international” to visitors, competitiveness, students and models, the plan specifically notes Star’s 51-storey Ritz-Carlton and Darling Harbour Harbourside market as future high-end shopping spots. Yet, the more they talk up this glossy, wealth-slavering “future” – as though luxury hotels, high-roller casinos and handbags worth more than your mortgage were the stuff of dreams – the more it sounds old-fashioned, almost quaint.

Five minutes ago, universities were the high earners, spending endless billions on glamour buildings to attract international students. Now all that built braggadocio sits empty. Universities plead for money and . Is this really just a blip? Do we even need high-end hotels? Casinos? Office towers? With commuting on hold, do we need motorways like WestConnex, destroying neighbourhoods, but now largely empty?Sure, times are uncertain. But buildings aren’t just job creators. The jobs come and go; the objects remain.

I don’t care if developers invest in outdated buildings. I do care if they use our money, our environment or our land to do it. We’re paying, we should have choice. Isn’t that the first principle of capitalism, you buy what you actually want?

 

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emfarrelly Sydney is a hole owned and operated by intellectual property and identity thieves

emfarrelly It’s not looking good 🤦‍♂️

emfarrelly

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