re:***bourbak12 *** cheaper housing on the way
If you look at the following link it provides data (from the ANZ) about Australian house prices. You'll see that the only period for negative growth was during the period 1989-1991 where the median price dropped a MASSIVE 5% in real terms. A bit short of the 30% the newspapers and Today Tonight want you to believe.
I am not trying to say "told you so" I am trying to show that property prices (for median level houses in median level suburbs) do not drop like the media wants you to believe. There's a reason why the term "safe as houses" is in existence and why the banks will loan such large amounts with so little down. The reason is because history is on the side of property in large Metropolitan areas of Australia.
It's a wonderful way to increase your wealth whilst risking very little.
