More homes left half-finished as South Africans run out of money, says Cashbuild | Business

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Cashbuild has flagged the growing pressure on SA's poorest consumers, estimating hundreds or more of their incomplete houses can be found sprinkled across rural areas. | News24_Business

Cashbuild has noted that there are many incomplete homes in SA's rural areas as people experience a cash crunch.Cashbuild, SA's biggest building materials retailer, says there's a growing number of half-finished houses in rural areas, as owners can't afford to complete projects amid growing financial strain.

Speaking after the release of results for the six months to end 25 December, CEO Werner de Jager said the impact of load shedding and rocketing fuel prices were adding to consumer woes. There were many incomplete homes"just standing at the moment" as people ran out of cash to finish building projects.

"Obviously a lot of people started the projects in this post-Covid[-19] boom period when finances were available and now that things are tougher, they have put it on hold."Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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_Business The cash build server hasn't been working since last year march when will you fix it.

_Business Ironic while the major chains publish there double & triple digit net profits? Maybe its time to reduce those 60 to 85% Gross Margins to more acceptable 20 to 35% range?

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