It doesn't take much for the nay sayers, to call out a recession is comming. Real estate supply and demand is still being outstripped by demand. It may take a little longer to sell a house, but that has always been the case. Back in the year 1981 a house i lived in with my parents, my father bought in 1968 brand new for $15 000 sold it in 1981 for $110 000.
I remember everyone shaking their heads saying to much too much, it took a year to sell, back then there was plenty on offer. now there is nil and property is worth millions. If the market collapsed, it will be because of other factors like mortgage and banks foreclosing.
Australia does follow what America trends usually 12 years to 15 years after America. If Australia has a recession, there will be a lot of poverty. Because recession gets it's tendrils into the middle class. A lot of new Australians would also be affected as well as government benefits that Australians take for granted.
The next 2 years will be a decider. If Australia opens up it's mining again and doesn't let green agendas hold it back then that could be the one thing that if we do head into a recession of this kind will be a saviour. but the way we are heading now. If this unsubstainable dream of you can't do that persists. We will probably have a full swing recession in 2 years approx. If you think poverty is bad now. Just wait till then.
