Housing typically moves in 14 year cycles and usually 12 up and...

Housing typically moves in 14 year cycles and usually 12 up and two down.

GFC lows were the bottom of that cycle and presented a buying opportunity.

In another 14 years housing prices will exceed present prices but the unprecedented fiscal stimulus during Covid has given an artificial element to current pricing and whereas even six months ago you had to bid six figure sums above asking price to secure a property typically now vendors are accepting bids below ask, which is a sign market has peaked and is rolling over

I have friends in the Marine industry who had order books for two years in advance and that has now reduced to six months.

i don't think people realise how devastating AI is going to be to employment and you are now seeing more properties being offered for sale and vendors chasing the market lower, which in itself is a self fulfilling prophecy..