Land wont go down in value???? How did he work that out?
Building costs wont go down... The only reason why they went up because the prices went up and the builders increased margins....the labourers wages go up, brick makers increased prices and everyone in each stage squeezed more juice....
Its very easy to work out....
Credit expansion means more luxury items like houses cars boats go up in value.while essential items like food, energy go down.
Credit contraction which is what we are starting to experience means luxury items drop in value and essential items rise in prices.
If you cant get banks to lend you the money to support the house prices then noone can buy.... Majority of Aussies are in debt to their eyeballs...... If you can free yourself from debt and cash up.... you will be able to take advantage in a couple of years when everything.... from luxury boats to houses have come way way down.
