Buying pressures and selling pressures have now flipped. The money is no longer available to pay for high property prices, hence the stalling effect. Reality is among us and the smart will not over commit on a purchse while there's proof that prices are beginning to slide. Then we'll have increased selling pressures from 2 areas. One where home owners cannot afford to make repayments. The other when investors are unable to get tennants in to service the loans. Selling pressure is just simmering for now. I'm involved in Body Corporate affairs and saw a nice couple yesterday. Both have good jobs, but also with a toddler. They've had anough of body corporate issues and repaying the loan. They're gonna sell at the end of the year and live with their parnets. Australia has a lot of big homes with plenty of empty bedrooms. people aren't stupid. If they can't afford the rent or the repayments they'll just have to comprimise on comfort and live cheaply.
