30 to 50% down in australia, page-13

"Australia is the best country to weather this downturn and take advantage of the next boom.
"But this China bubble is going to back up on resource and commodity markets and it's going to hit Australia hard and I think it's going to cause your real estate to get hit and finally burst."

This guy can't make up his mind. So we're the best country to weather the downturn BUT the downturn will hit Australia hard while being the factor that bursts our bubble.



"I see real estate going down 60 to 65 per cent in the US, it's probably more like 30 to 50 per cent in Australia, but that's still enough for you to say: Hey why would you go buying real estate?"

The only way for RE prices to drop that hard is for wages to drop or unemployment to rise significantly. And no, the 6.5% commonly sprouted as the mid-term forcast isn't a significant rise. An event to drop RE prices that much will have wide consequences on all investment classes. If you genuinely believe this article I'd get out of the share market/FOREX/metals now. They'll be the first to drop being the most liquid investments.

Even if it drops and I'm out of a job, at least I have a roof over my head that a landlord can't take from me. Hope you enjoy sleeping under your avocado trees.