The slowdown in WA as the mining construction boom tapers down is now in full swing.
Unit prices in Perth will be the first to come under the hammer next year as supply far outweighs demand. House prices will soon follow. The loss of confidence, and the negative effects, will flow on to the rest of the country.
With hourly rates and conditions on offer to construction workers being slashed and burned, the flow on effects will be soon apparent to all to see.
2015 is going to be the year that Australia sees housing prices top out and then decline, slowly at first then quickly as the punters all rush to the exits.
This stampede is going to cause wealth destruction on a massive scale never seen before in Australia. Few will be spared. Cash is King in 2015.
Mark my words. Those who choose to ignore the above, will be financially destroyed.
