I think we have to be a little careful listening to property focused experts here - talking about normal property cycles and what to expect etc.
I know that sounds like an oxymoron but hear me out
The issues in Australia are far more serious than many people realize at this point - and I have heard few property experts that really seem to grasp it
Our debt is through the roof, and the economy is very shakey - sure we have muddled through the last five years with somewhat of a property boom in Sydney and Melboure - off the back of the biggest interest rate drop in history (that has not even stopped the falls in Perth)
We are in uncharted waters now
Things are hanging here OK - and could in a STABLE ENVIRONMENT probably with central back intervention
However one major shock from overseas and our government and central bank do not have enough firepower to prop this market up (they can print but it would crush our already weak dollar)
If Sydney starts to slide and it pulls back the retail sector here the RBA could be forced to use its last ammunition to hold it up
We go near a recession the results could be devastating - I am talking Ireland style
Be careful out there - say what you like, believe what you like but economically we are living in one of the most precarious times in Australian history
I don't know the outcome here - but personally it could be wise to be prepared for anything IMHO
It doesn't matter what Aussies love for property is if things hit the wall - there will not be enough money in the system to continue to play the game
