Undoubtedly there are demographic headwinds at play along with the long term credit cycle (and they are also linked) but as many point out immigration rates are opposite. We also have negative gearing which is a massive distinguishing feature and creates an income stream for the boomers. Amazes me that people in Aust so resistant to immigration, a hangover from 20th C mainstream thought. Whilst the attitude in 20thC was to keep em out, (an extreme example being that bumper sticker "F... off we're full" I imagine the 21stC will be about rising competition for migrants to beef up the working population. Lower rates dont work. And the biggest threat to house prices is prob a rise in unemployment. If u work, debt is manageable. But lose your job and suddenly big problem.
IMHO property aint going anywhere for a while, allowing for natural volatility. You can argue your case as much as u like but it aint gonna change the big picture trends.
Lets be realistic the talking head gurus rarely get it right, they just react to whatever event is news. I remember school in the 70's we were told how much more leisure time we would have. Really! And doctors drilled holes in your skull when you had a bad headache. Blimey im surprised women made it through!
