85% house price falls in Sydney predicted OUCH., page-15

I travel a lot, I know what's going on in mega cities. I'm going to Osaka this coming Sept.

My answer is business hub cities with massive population like Syd, Melb, NYC, Mumbai, Singapore, London, Shanghai, etc... will remain high & will go higher (correction would be minimal/short lived). Those who could afford (many people can) will buy & live in mega cities. Those who can't (many people can't) are forced to move to cheaper regional areas or keep on renting in those mega cities to maintain the lifestyle.

Sorry, no property collapse in NYC, Mumbai, Singapore, London, Shanghai (including Syd & Melb). If you want to live in mega cities you'll either make it or break it. If not, move out... many others who could afford it will move in.