the median price is a rubish rigure. it has no use.
if houses under say $400K have lower turn over but hold the same value, and the richer end of the market is still buying but holding same value, than the median price goes up. even though house prices could still be the same
Then your property investors look and smile because they think house prices are going up as the papers report median prices are still climbing, when infact they are not
house prices under $400K have been prety flat for 3 - 4 years now, its just the super wealthy are still buying in the upper end.
I fully agree with the graph posted above on how over inflated houses are, and that graph sugests a drop in value by 40% which is also what I sugested couple months back will happen over next 3 - 4 years.
House prices are no different to shares, they go up and down and over value and under value, but never always up.
