and with great respect Baron your one of the conned
sure folks who have low debt levels wont sell their homes
and those areas undergoing genuine demand will suffer less
but the buyers of the last 3 years who bought at top are under significant pressure
ever wondered how property prices go up?, where does all the money come from to make them go up, do folks all of a sudden inherit on mass?, do all the immigrants arrive with suitcases full of money?, think about where you all got your money to buy that new house, it comes from the credit cycle and the feeders of the credit cycle are the banks and the feeders of the banks are the central banks of the world
so when the US raises its money supply , it devalues the US dollar, if the other countries want to neutralize this so they maintain their terms of trade and keep exporting they are forced to devalue as well by printing money, if the RBA didnt do this the AUD would be $3 by now, so in a way they have no choice, so the US Feds actions have created a wave fo money printing and thats why there is a global reat estate bubble, Spain, UK, most of Europe are the same, its the knock on effect
sure houses close to the city are in higher demand but that does not account for the majority of the higher pricing , left alone they would be slightly higher on a demand basis but not to the extent we have experienced
