In my opnion ,as property remain so called stable (overvalued) for long. Crash would be more severe, we need invemnet in real bussiness to create jobs. not housing wealth which creates nothing ,what bricks can produce ,if peoples keep getting easy money like housing bubble who would invest in real bussiness. Keep going Housing bubble would detroy the investment in real bussines and unemployment would increase to alarming rate and few would get richer at the expense of entire nation. IO prices would forces many miners reduce labour cost and so on. The people who would get unemployed because of pressue on mineral price ,would housing sector has strenght to absorb all that. Suppose,if all foreign investor has different valuation of australian economy because of mineral prices crash and decide to sell before its too late. What would happen
Above is only my opnion, may be right or wrong.
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- I'm betting the property bubble will end in 2015
In my opnion ,as property remain so called stable (overvalued)...
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