property has had it to good for to long time for a serious correction to take place.
were in a credit crisis, why would anyone believe property will continue to boom lol, banks are to scared to lend to each other, I hardly see them giving high risk customers loans atm, I dont see those ads anymore to borrow 110%+ of the house loan.
Alot of investors come out of 3 year fixed loans this year & jump from 6.5% to 9%+ , these are the investors that are up in some areas 100-200% on there properties, & there the ones that can slash 100k+ off the price of there property & still be way ahead.
Just like our stockmarket has been completly smashed its overdue that property feels some pain, 10%-40% is very reasonable, by mid year I think everyone will agree the property boom is well & trulyover.
If aus bank stocks can fall 40% why cant property?
