no - he is saying bottom end will be more resilient and I agree - from my own experience and that of friends, their wealth has been damaged by the sharemarket rout, rather than "retreating to safe houses" equity has been burnt and people will be more reticent to borrow, and banks more reticent to lend.
If I was going to invest in property it could be middle-lower end which has best hope of surviving rising unemployment and wealthy individuals taking a haircut.
