of course prices will correct...those that don't believe that haven't a feel for history or the current climate. They are probably still scratching their heads as too how our index has fallen 27% in less than a year! Those same people probably still see us decoupling from the US and can't believe oil will be back to significantly less than US$100 a barrel within 12 months. Please whether it's housing, markets, commodities ec they are all subject to booms and busts. When interest rates rise, unemployment rises, growth slows and credit markets cease please explain to me how property prices can doing anything but fall/correct.
