"as in all cycles and booms, there comes a bust, and housing in australia, as an asset class, is grossly overpriced based on any indicator you care to name..
prices will drop because of unaffordability in the short to medium term and immigration will prop up prices about as much as superannuation funds availability has propped up share prices in the past 9 months.. "
Finally some sense. People also said the market cannot go down because we have all these billions in superfunds on the sidelines. bla bla bla
ALL booms go bust. It is as certain as death and taxes. EVERY boom always has people claiming 'this time is different" and the boom will continue on and on for whatever reasons. bla bla
Usually the reasons make sense and are not bad but markets overshoot to the upside and downside.
With affordability at decade lows the scene is ripe for this boom to bust as well.
Mortgage rates almost double digit, credit hard to come by, savings smashed by stock markets. Yep, the scene is set.
