the aussie property bubble is about to pop.

Have you seen the latest BT adds on TV with Cris Caton admitting that we are in a property bubble?
Calls a 20% drop unavoidable.

Went to another auction on Saturday, auctioneer was hard pressed getting any bids and had to resort to that BS tactic Vendor bid.
In the end was trying to get $500 bids........no takers.

This bit is funny, During the auction the auctioneer says to my brother " Are you bidding Sir, dont you think it is a bargain" my brother answers in a rather loud voice "not really"

On the way out my brother states to the crowd " The bubble has popped" Everybody laughs.

Real Estate Agent .....Hocking Stuart Mt Eliza.
Auctioneer .... Roger Lemke.......yes the opera singer.