There is also the point housing has trippled in value in less than 10 year, where wages and material costs have not.
Housing is seriously over valued and there is a lot of profit margin that can be cut back on to keep turning over the new houses..
I am quite confident the 40% will be a drop in house price not a climb.. it would be foolish to think the housing bubble will get any bigger.. we are allready one of the most expensive places to buy globally..
the population of Australia fits into 1 city in the US, of which they have many.. yet there house's are much cheaper than ours, even before they started to soften off!
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