auction results too scary to publish, page-46

The cost of construction wont be a factor when the thing driving house prices (as well as employment and inflation)is bank lending not construction costs. Thats now been taken away and that it what is now forcing prices down.

There is a glut of unoccupied houses already which will get worse as unemployment rises and people increasingly share house, or move in with parents. Around 10% of australia houses are currently vacant.

The unemployment rate prior to the property crash in the US was 4% when the music stopped banks reduced lending unemployment rocketed to 11% and is now stuck at 10%.

outlook is now very bleek for housing imo.