I have never posted on this forum before, but it has my...

I have never posted on this forum before, but it has my interest. My thoughts;
*Property in Australia is at all time highs.
*Interest rates are going up another 2% within the next year or so.
*The stimulus home buyers grant has been removed.
*All other Western countries have had significant price drops and are still overvalued.

It seems the only thing on the property investors side now is the drastic shortage of properties to keep values increasing. Surely there are only a small amount of new buyers out there now.

Just one more point - If Australia stays as unaffordable as it currently is, will migration figures change? Why come here where you have to give away more than half your wage at the moment to get a home and that will get worse with rate rises. USA is still at risk of more downside to their housing market when the ALT-A loans re-set. A double dip recession is more than likely and here we sit in Australia, oblivious to the residual effects of the recession in other parts of the world.

For me, I am sitting on the sidelines for a while longer as far as property goes.