When a big bust is predicted by just a few pundits, pay some heed. However when there are many as is now predicting bigger falls pay great heed. Also last week in the AFR John Fraser who was appointed as Secretary to the Treasury Department by Tony Abbott, was quoted as saying that he thought there was a property bubble on the east coast way back in 2014.
Falls bigger than 10%, certainly is on the cards. A crash, maybe but certainly the property climate will certainly get uglier. Apartment developers are in lots of trouble, and that feeds through to all the contractors and assorted subbies. Many of whom will loose their houses as developers will be going broke. The noise is getting louder by the month.
