housing - - rivaling great depression, page-13

It is still a buy and demand thing here in Sydney, i see interest rates as cheap, when i was borrowing in 1990 it was 17% so what is everyone squealing about. I sold a property recently on lower north shore in Sydney and the number of potential buyers was extraordinary and I was happy that it sold well above my expectations to an expat. 600% increase in 18 years was good return in my opinion. It is all about location location location. We have already seen big falls in prices in the west of Sydney but have seen little change in the $600k to $1.4mill range. The other end taking the hit at the moment seems to be $1.5mill plus properties this end of the market is soft.