I think that nominal prices back at pre-FHOG levels are almost certain, below that though i'm not so sure without big increases in unemployment.
Here's my completely non-scientific extrapolation:
If the melbourne market does something like this (or perhaps declining a bit more slowly) will effectively mean 5+ years at zero nominal growth. These real falls will perhaps take the edge off further nominal falls.
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I think that nominal prices back at pre-FHOG levels are almost...
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