Short Term Trading Weekend Lounge: 15-17 Mar, page-24

I don't think house price is close to bottom yet, will be there in next 1 or 2 years... All I see now is builders, developers, tradies are still busy; they still have a lot of jobs to do, to enjoy. When media starts cry for them then will be us - investors's turn. More than one year ago I did tell to 1 of my friend (builder - developer) be careful because house price would drop, when he got a few project at St Albans ( Melbourne west). At that time, 1 house on Alfrieda st (St Albans) was sold for ~1.6 mil$, and houses behind that street is Collins st people kept ask for 1-1.2 mil$. Same that guy got bankrupt in previous "correction" RE when he invested- developed a bunch of projects in Essendon due to people move from Toorak to downside. U guys will ask how he can survive after bankrupt, well, he worked as handyman to gain capital back.