Prices cannot keep going up forever at high rates. There has to be a catch up period for incomes.
There have been major property slumps in the USA, England and Spain after periods of high growth.
So despite what people say it can happen here.
Property prices have gone up not on the fact that people want to buy and live in them but because investors and other have been speculating on property. The high interest rates make property much less attractive and there is more potential for down side than up side. This makes property much less attractive for investors and should cool demand for sometime.
