Robert Mc Pharlin parked his ute outside the Elizabeth factory to say "thank you to the workers [and] show that I like their product"."It's more about the celebration of an icon that's coming to an end," he said."It's a celebration of the workers that actually built these fabulous cars.
There will also obviously be people who bought their property at a much lower price and are still willing to sell into a market where prices are down 10 or 20 per cent because a) they're still making a big profit, and b) they're worried prices may fall further.
It also ignores new developments — most developers have finance to fund their project and will need to sell their finished units/houses to pay their debts, even if they have to slash prices to do so.
Since 1994, General Motors Holden have manufactured all of its Australian-built vehicles in Adelaide, although engine's were produced at Fisherman's Bend until November 2016.
The company's peak export year was 2005 when 60,518 Holdens were sent to 10 countries, including the Middle East and North America.
Holden worker Martin Stejskal said the mood was "a bit sombre, a bit up and down.
Everyone's trying to get through it"."Seeing that last car come off the line — it was great but also very sad," he said."It doesn't necessarily feel right that the [plant's] closing down."Many were reluctant to discuss the politics, but one employee of 53 years lashed out at Canberra, blaming Hawke-era minister John Button for slashing import tariffs on overseas cars."Button was in the Labor Party. Holden's can't go on anymore," he said."The Liberals have done nothing about it and Labor brought it in." The first fully-built model was produced at Elizabeth in 1965 when the HD Holden rolled off the production line.
The Holden production line in northern Adelaide has shut down for the last time, ending 69 years of Australian-made car manufacturing.
Workers posed for photos with the final car made as they marked the plant's closure.
But this severe price correction isn't really a full-on housing crash, with its consequent economic fallout, unless the falling prices affect tens, or perhaps hundreds, of thousands of sellers who end up booking losses (including banks in repossession).