Surprisingly the abc tv news actually covered both sides of the story for the first time in ages for house prices. Usually they are über bulls, except on Alan Kohlers slot.
They mentioned that even though the measure rose in nov by a tenth of 1% (actually a drop in real terms if you include inflation) the rise was due to apartments increasing by quite a bit more, might have been 0.23% from memory. Houses actually dropped, like they have the preceding 11 months.
I can see no reason why the prices will not keep dropping, looking at the stock buildup. But the main reason I believe this, overleverage, greed and stupid policy and investment decisions by individuals and governments always have repercussions, and I don't think we have had a bad enough dose of real life yet to come along and really shake things up.
The real world is often filled with periods of pain, loss, misery and anger. There is a lot of this coming the way of the property market IMO.
