melbourne auction market in limbo, page-10

Massey,

Nothing goes up in a straight line, including property!

But to say 50% fall....

Lets say you take a $500k house 15km from Melbourne,say 23sq in size....and reduce it by 50%....new value is $250k ?

Is that what you seriously see is coming?

The replacement value alone on a 23sq home will be much more than the $250k? Then there is land value...

The carbon tax will add double digit cost overnight.

God help us all if the Carbon Tax does come in. If your worried about overpriced housing wait until Julia brings in the Carbon Tax.

If property does indeed fall by 50% we'll have much more to worry about Massey....lets hop we don't get there.