So it used to be that Australia was different Malaga, but now it is that Perth is different?
Is there a special WA forcefield that prevents things like the bust of a decade long mega credit boom having any effect out there?
Article today (on another thread) about Albany - vendors with the same sense of history and economics as you want a million bucks but interest from buyers is non-existent.
It comes down to this - just like the stock market there are many factors that go into the direction of the housing market but the biggie is sentiment. After the boom of the century, sentiment for housing is gonski and won't be back for at least a decade. About bloody time too - fundamentals have been absolutely terrible since about 2005 but finally the sentiment has caught up with fundamentals - just like has happened before in every other housing bubble in every country in the world. We are not different.
