"He went on to say a 30% correction is not a bubble bursting....

"He went on to say a 30% correction is not a bubble bursting. Well for average working family buyer on 600k mortgage 30% loss is 200k of hard earned saving lost or 4 to 10 years of saving gone to the pocket of speculators who are mainly oversea developers and investors who bought the property and sell on to the new buyers in the next few"

Isn't the word average is used to describe the buyer, not the value of the mortgage?

Markets within markets and all that.