not sure whats going to happen in nominal terms, but I am forecasting australian property to fall to the degree of 40% in real terms over the next couple of decades.
The government must ensure first home buyers are borrowing less, to save them from a life of a "debt slave"
However the government will also acknowledge the massive risks to our banking sector, should property in nominal terms swing to the downside.
We could really do with an independent body similar to the RBA - the "Housing Board of Australia" with powers to ensure price stability and growth at sustainable rates in the housing markets.
