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I think you have the hit the nail on the head, if you have unoccupied or a lot of buildings going out of the market at the same or similar rate as new units coming online than you are falling behind. I didn't do the background research on Austrialia but this I think happens a lot in the US we have a bunch of poorly built things that need to be rebuild in 30-50 years so we are not increasing active housing as much as new construction sometimes suggests


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