I was trotting around for work and attended many mortgage lender seminars before the bubble began. Hours too long and gave up.
The nuts and bolts of the rise in property values is attributed to two things. Cheap and easy credit. By the banks and their crony mortgage lending branches masquerading as independents.
Most mortgage lenders had LVR of 100%. Little or no deposit. Major banks LVR of up to 95%.
Plus you had the spruikers pushing positive geared property in seminars and all media outlets.
Add first home buyers grants keeping the fire warm.
Now major banks want at least 20% deposit. Who has 100k deposit for a 500k property these days, not many.
One and only cause of rising and falling property prices .
