Ignoring the woefully awful analysis above.I work in the space...

Ignoring the woefully awful analysis above.

I work in the space in Sydney, and the continued housing boom seems to be rapidly accelerating despite covid. Interest rates have distorted the market beyond recognition and every broker I speak with reports being beyond capacity. Given the housing market's response to the current covid "lull", I fully expect that there is going to be some absolutely manic behaviour when vaccines get us back to normality. Where that leaves society long term I will leave to the navel gazers, but this is a deeply unloved cyclical stock operating in a market that is already minting coin and no where near its peak IMO.

Now that the structural elements of the turnaround have been completed, you have to expect that an operator as savvy and experienced as Bouris will see and seize this epochal moment to ramp the business and capitalise on the industry's galeforce tailwinds.

That's the bull case anyway. Disclosure: second largest position.