bears are still here .. property market is bouyant at the moment...

bears are still here .. property market is bouyant at the moment so the bulls are correct. For how long? I'm guessing not too long.

The mining boom in WA has been a one in a century boom - and it is unwinding. 50% of all Chinese loans are through their shadow banking system - just waiting for a pop. CAPEX dropping off sharply from this year for mining - it currently makes up 1/3 of all CAPEX for Oz. A specific example - current worker numbers on Chevron projects will drop by 90% in 2015. Roy hill goes on line in 2015 (if lucky) - workers needed to operate it? about 90% or more lower than needed to build it.

The good times have rolled on way to long so everyone thinks its the norm. The once in a century boom means the unprecedented growth we have had is, well, unprecedented for anyone alive right now so its a one off. So, bulls, yes property went well, fuelled (in Perth anyways) by our mining boom.

I can not see any good reason why property would now avoid a sharp correction. I see the reasoning that "it will because it has in the past" as ridiculous especially since we are all in unchartered waters.

Enjoy your high prices bulls ..