property doomed look at graph, page-14

personally think the government will throw what they can at property to prevent any wholesale large falls because any falls of the magnitude of 40% plus as some are claiming will be devestating for the economy as a whole

whether this works or not is yet to be seen

best case outcome is a longer term softening and stagnation of prices.

Based on the wage growth between 2002 and 2008, it would take 5-6 years of similar wage growth and zero movement in property to bring things back to a normal level

take into account a slower economy during this period and this could easily push out to 10 years.