I do expect the sales to fall in line with the general housing sector.
So if building approvals are 10-20% less, sales might be 10-20% less. This is not news or cause for alarm IMO, it's the property cycle. If sales were to drop 20-50% even though the construction activity only dropped 5-10%, then yes, it would be concerning with regards to the company performance. Important to note - It's earning that count, not just sales volume. I imagine production (and hence cost) can be decreased and inventory withered down if orders do decrease.
On a side note, also expecting the govt. to step in with increased infrastructure spending when the risk of recession and job losses become more apparent. There might be some uptick in that event.
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