Don’t want to throw a spanner in the work. But Australian...

Don’t want to throw a spanner in the work.

But Australian property price gain 100% in the past 10 years, US properties prices have gained only 50% in the past 10 years. However, since July 07, US market has drop 20 – 30% in price and Australian market has only drop 6%.

Yes, there is over supply in the US, and there is under supply in Aus as well as higher unemployment in the US.

My thinking is that the housing price drop won’t hit Australia until sometime mid 2009. Properties price is way too overprice compare to the average salary, especially in the major Australian cities.