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11:33
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Originally posted by daicosisgod:
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Get off the sauce you fool. You have just outed yourself. Melbourne apartments are a basket case. Interest rates drive house prices, the correlation is irrefutable. When I was CFO for a substantial business with a large SA division in the late 1980's every second office building on South Terrace in Adelaide was for lease. House prices had fallen through the floor. At the beginning of 1988 interest rates were around 10% and peaked at around 18% in July 1989.
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If people were fleeing Victoria as the right wingers here often claim then house prices there would be falling not rising.
