desperate owners slash prices by up to 70%, page-6

Agree nice one. Im not a bull or a bear per se, just a realist. Believe me I would be a bull if I thought now was a good time to buy. On top of that too I don't wish hardship on anyone. Right now though I am bearish on property for a few reasons which are;
1. China is in the midst of a big slow down particularly in property. This will have an affect by slowing down the rate of student imports, less Aussy exports in general, and as a result, less government propping power.
2. The whole structure of the economy in this country is shot and by saying that I mean people are in way too much debt in their mortgages leaving little room for spending and jobs growth-the debt ceiling as Keen noted.
3. The rise of the internet is beginning to have an affect on the retail sector and this combined with the fact that many are too bloated with debt too boost sales will and is leading to higher unemployment.
4. Property Prices are just simply too high to allow new comers into the market except perhaps if you want to live in a beach box or a dump of a town miles from anywhere which I'm sorry TCI, most don't.
5. Wages growth haven't kept up with property prices at all, unless say your one of the 2 percenters working in mining.
6. The cost of living on top of this has increased dramatically in the past 10 years particularly food, energy, water, oil and with a carbon tax, more of the same plus some.
7. The talk of the JAPS invading the mortgage market by a few hopeful landlords will completely backfire and only serve to export more jobs overseas, just like whats happening in manufacturing and aviation. Speaking of Japan well, near zero interest rates didn't help them
8. Very low rentals.
The list is endless, but I'm tired.


So atleast I have some facts and reasoning to back up my own so called 'sensationalist' opinion. Unlike those who are living on a wing a prayer with no fundamentals or facts whatsoever. Every single day on here i have not been convinced by a single person of a reason why property will go up in the next 2 years. Nada, zip, nothing!