Ok.
I think the housing market is coming off the boil and property prices will get cheaper but I don't think there will be a collapse in the property market more like a slow downward grind of maybe 15 -20%.
Traditionally Australia has always been a big home owner country and like now the building industry is helping smooth out the bust in the resource sector. The latest figures on new home building are really very strong. If labour is elected and has its way with negative gearing then the new housing market will get even stronger as Labour is taking the Negative Gearing away from existing properties.
