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While I'm happy for the Government to cop flak for yet another stuff up, I don't think this asbestos thing is their fault. Plus the asbestos used is the white kind which isn't as dangerous as blue asbestos. I understand the fear though.

Nope that's not the one I was talking about. That one should be progressing shortly - can't really rely on land value increases pre-construction as there won't be much valuation uplift in that.

Don't need to sell. Bought mid last year, now worth at least 25% more, at 80% leverage that's 100% RoE.

For sure, I don't know when it will turn - no one does. I just have this feeling about it though. We shall see.

The way I see it is that the market peaked in 2009/10. It is already 2013 (3 years). The areas that sold for high prices back a few years ago are still around the same, maybe about 10% lower. Many of my friends bought back then and are smarting for it. However, they do not need to sell because...

I have to disagree with you there Peter. I think we bottomed mid last year, early signs of recovery in the areas I look at.

Gee that was a quick knifing of Baillieu. Strange times.

Yes well they campaign all the time to different areas. It's just that they visit marginals more than safe seats.

All politicians do that (pork barrelling) but Gillard doesn't even talk to the constituents while visiting that area. It's a farce.

In Western Sydney, not Victoria ;) Although she is so silly I imagine she doesn't know the difference.

The entire construction industry in Victoria is ****ed. Good for me as I am developing and can screw builders/suppliers but it hurts everyone.