interest rates will do all the damage, not factoring in imigration in my prediction
if we hit 10% even 11% interest rates thanks to the next 3+ years of subprime and the unemployment it creates, its going to devistate house prices.
i would be happy if they just fell to realistic levels but would not be suprised if it falls below them due to how much this balloon has over inflated. house prices are just in the realm of fantasy now
my parents sold their house in 1999 for $95K in frankston, it had 3 extentions and was done up real nice, one of the best house's in the area.. i saw a house for sale, same house without the extention, looking old and run down wanting $300K its just unrealistic now the asking prices
