Let’s take the mining downturn as an example. Houses in mining towns (yes, they do have pools in mining towns) have halved in price in many areas. With no “big bucks” anymore, many must sell as it is impossible for them to refinance. The pool still needs to be certified. Secondly, you have the fly in, fly out workers who bought while they were on the big money. They might have over committed, now the job is no longer there and they may have to sell their homes. Many will have pools that still have to be certified.
Lastly, when interest rates begin to rise which they eventually must as certain as night follows day, this also will cause more distress house sales. None of this makes any difference to us as they still have to have a current safety certificate. With a continuous assertive marketing campaign to a certain degree, we are recession proof. Houses still sell in good times and bad. The only thing that really changes is the asking price and that is no concern of ours.