Not getting too much satisfaction here guys. I was actually asking the doom sayers to be more specific than that.
There are so many dark warnings but no specifics.
If in fact you believe that the end is nigh please tell us when, for how long it will fall, what will it fall to?
When will it recover? Where will it go when it recovers?
How about I make it easier?
Don't be too specific about when, how about within 6-9 months? Is that fair?
Then, once you have that plus or minus "bottom" try estimate how far that bottom is.
Australia wide median price is OK (useless as that figure is), how far will Aus wide median for residential fall?
Keep in mind that when interest rates in the early 90's went to almost 20% and unemployment was huge and we were just a part of a world-wide recession property prices dived from their peak in the early 90's.
With all that, huge interest rates, huge unemployment how far did property medians fall? Wait for it ... wait for it .... 10% that's how much.
And now? I guess you have to factor in historically low interest rates if you are to calculate things. Have you guys factored that in?
