Yes, partially correct if you see it 12 months ago... however, China iron ore's stockpile has been reduced greatly. Next year, China will go shopping again. Opportunists will see it as opportunities in resources & mining services sector recovery, which may affect the housing price, esp WA.
http://www.mining.com/iron-ore-is-having-a-great-december-as-chinese-stockpiles-are-slashed-76281/
