i just dont agree with some of those comments in that news item.
he says the bubble burst 3 yrs ago.....that maybe true in southern places like syd to some degree but in qld the market only peaked last xmas.....
he also says middle income borrowers will be able to handle it but in fact i would suggest this is also incorrect......he has failed to mention the "enemployemnt issue" that is bound to raise its head...no matter if young or older, you lose your job and cant find another then kiss your home goodbye unless you have substancial savings to back you up..
not a good article...sorry!
im quitely confident the housing sector has plenty to slide yet...maybe not a quick drop but a steady drop over the next 3 years or so............what % it will be is anyones guess but the housing sector especially in qld needs to take a breather and retrace to affordable levels for new homebuyers to be able to enter the market comfortably....
this is currently not the case anywhere almost in oz.....new home buyers on the whole have not saved effectively for a decent deposit and banks now will be looking at this way more seriously than they did previously.
