the mighty dow jones, page-10

All politicians said we are in enviable position, we are the best in developed country, balah, bahlah....

Check our super fund, still well below the 2007 peak.

While the another string of income for the retirees is shrinking - their house.

Taking about ponzi scheme. Our housing market is a perfect one.

In some area, almost half of the streets are on sale. The price target: $2m+. Who are the sellers? Retirees!

The have bought their properties at one tenths of the $2m, and pass on to the new generation, who have to load up with millions of dollars loan. Basically, the younger generation are sponsoring older generation with millions of dollars debt!

Well, you may think that new generation could sell their home for $20m in 30 years, and can enjoy a nice retirement.

I guess you can only hope so!

I have seen some very expensive area, the price has not reached the 2003 peak yet. Every agent says anything over $1m is hard to sell.

Why? Affordability.

7% annual house price appreciation is not sustainable. IMHO, house should like used car, cheaper as it goes.

I feel the house price crash is coming, particularly for expensive area. The downsize of baby-boomer is the cause.