australia similar to ireland ?, page-33

I can back up what you have said Kincella. I have been a member of hotcopper from 1999 (i think) and read all the same stuff before. People were saying it in 2001/02. I distinctly remember it because i was about to buy a property (after selling one for fear of the burst).

On this forum it is a case of "same horse, different jockey". I would like to remember the doomsayers of that time and the ones that continually cut and past Steve Keens articles in 2008. I remember one bloke was very vocal back then, but i don't remember his name. It could be Matt under a different name (joking).

Any rate fall is going to put a cusion under the property market. If rates fall to record lows, why wouldn't history repeat itself and see growth in the market (like 2009). The RBA has a lot of room to move and with falls in the property market likely to affect retail and other sectors, the RBA will move accordingly, continually keeping out market somewhat stable.

In 2008 we had every bear doing comparisons with the USA. Now it seems Ireland's crash has replaced the USA's. And while there are some comparisons, people fail to report the banking crisis that ireland went through and the huge oversupply of housing that they had as well. And as far as easy credit is concerned, while our banks have clearly tightened, they still managed to have better lending practices than most.

Last week's news about Sydney & Melbourne actually managing to rise gives proof that we are not going to see the 40% drop nationally, that most want (in here). In the past month we have had reports on Sydney's rents rising and prices stabilising and actually rising. Doesn't look like a bubble bursting to me.