how much is a house worth?, page-18

As an investor in real estate in Australia i got out in November 04 some 15 properties in all as a return of 2% or less is not an investment to me.You are paying some one to live in your property that is not a good deal. I can get 6 to 7% return in China so that is where i will be until the middle of next year then i am out of that as well.I have done alot of research into real estate in Australia and have come to the conclusion that property prices will have to drop by up 60% to get a real return of 6% on that investment. Wages will not raise any time some to a level that will give property a real return of 6%.Due to high interest rates ,also fuel prices we will be in recession next year along with rest of the world then after that we will head to a depression worse than 1929.