Note the final sentence about three years up and two or three...

Note the final sentence about three years up and two or three down.... And a long runway of housing construction starts is projected until 2027 or '28. And if you wanted to be clever and and compare housing starts with the all-time BRI share price, there's a certain waviness and fluctuation to both. Maybe I'm reading too much into it.

At the start of 2018 BRI was around $2.30. 18 months later in mid-2019 we were around 95¢. By the start of 2020, shares had recovered to $1.60.



Since March 2023, in 15 months, we've fallen from $2.60 to $1.43. In other words, the 2018/19 fall was 52% from top to bottom. It's been ~43% this time in 2023/24. BRI is completely unloved and a classic contrarian play

My fear is the share price will continue falling indefinitely, and go to 0.01¢, then bankruptcy. It's an unreasonable and irrational fear though. Debt is low (so is the number of people wanting to buy this each day!) and the company is 100+ years old. Commercial construction is doing fine, and the cyclicality in residential construction will turn. It always does (see article extract above). We're arguably in a stronger position now too, following the small acquisitions.

Operationally, I don't know BRI could really be doing anything differently or better. I guess the silver lining is there is very little competition for buying this at the moment and it's a great time to be building a position. When the cycle turns, these shares will be in demand and I'll be requesting a decent price to hand mine over. In the meantime, maybe all I've done wrong is not expecting the downturn to be this dramatic. I suspect it's a waiting game with BRI. In the meantime, politicians of all parties and the media are aware of a housing crisis. The situation will improve in the medium term; I'm sure of it.