property values plummet across australia, page-15

Yeah old argument, so immigration levels are high and supply is low therefore the average house is really worth $1 mill and has a rental yield of 1%.

You miss the point, the point is that housing is way overvalued now taking into account immigration, rents, wages, land release etc etc

Some immigrants can afford to pay current prices but the majority cant.

The problem is simple, people cant afford to pay current prices anymore, the solution is therefore simple too, if you need to sell you will have to lower the price of your property.

If you think its a supply demand issue why are there roughly double the listings of houses for sale all around the country compared to 12 months ago?

Not only can people not afford to buy many of those who have bought cant afford to hold anymore...

If it was anymore obvious it would be staring you in the face...its happening all over the world...go read the news in NZ or England or ireland or the US...its happening in more and more countries at faster and faster rate.

its called a credit crunch, the price of debt is rising.