"IMO the reason houses sell for these prices is because ppl are prepared to pay that much for them"
the only reason house prices are so high is because people can get the money to pay these prices
take away the easy credit and the low interest rates and there is nothing to hold the prices up
we now have high interest rates and a credit squeeze
people can not possibly pay the prices they have been paying
also a lot of people already in houses with big mortgages are likely to throw in the towel and sell their properties
the end result will an increase in the supply of houses on the market, a massive contraction in demand due to high prices and higher interest rates and tight ceedit which will result in falling prices.
ASX Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)