Stocko you're right that I have a lot of money in property but the reason I have done so is because the fundamentals of that area of investment allow me to sleep at night. Just to make sure I've locked in my rates at the generously low rates on offer 3 months ago.
It will not drop 30-40% for your average 3BR BV as it has never done so in this country. The reasons why it hasn't and won't again are pretty simple.
You WILL see a correction for high-rise units and some prestige properties but again it won't be on the scale that wishfull thinkers say it will be.
I'll be so bold as to make a prediction for you. If you go to www.realestate.com.au or similar have a look at Brisbane suburbs between 5-10 km from the city centre and have a look at normal houses on their own blocks. Write down the asking prices. For Melbourne do the same except make the radius 10-20 km.
Now file that info away and in say 3-4 years do a comparison with those figures and you will NOT see any drop. Infact you will see a healthy rise. For Brisbane do it in 2 years to see some immediate results. You should see at least 30% for Brisso and for Melbourne in say 4 years you should see about 50% on today's prices (post 2006).
As to the speed cameras, at the time of the discussion it was made clear that the location in question had embedded sensors, you simply ignored it, although to be fair there had been an earlier discussion about mobile radar units so perhaps you were still talking about those. If I misunderstood which post you were responding to then I can see how the confusion arose. It is clear from your website that you know your wireless communications.
The property thing gets my goat because the posts which most vociferously predict massive falls display a clear misunderstanding of segmentation, underlying demand, and many other fundamentals.
If you really want to speak with authority on property read a copy of Waxman's book on the subject. It's very academic but it makes it clear why Australia will not experience the drops predicted by "Today Tonight" or similar. That sort of scare mongering is just to tittilate people who watch that crap.
I really do not care to have a pissing contest with people who haven't got the equipment to compete. Study up then come back and tell me that I'm wrong.
