I like this bit: "There are plenty who believe were paying way too much for houses and apartments. The International Monetary Fund warned earlier this year that Australian houses are overvalued by around 20 percent. The average national capital city house price is now $439,800 and the average new mortgage hit a record $367,000 in December 2009."
Early 2009 the IMF warned of house prices being 20% over inflated and they went up another 10% in 2009. Recent predictions suggest 5-10% again this year.
Will property simply be out of reach for our kids, or will property reach an affordable level again?
