there is a shortfall of about 30,000 dwellings per annum at our current immigration rate, that's what Alan Oster said the other day, I posted the presentation link in ASX General...it was very interesting. NAB doesn't see housing rises for about 2 years but they weren't all doom and gloom, maybe about 10% downside but also lower interest rates to come.
Could be good timing for entry into the market for those with a long term view.
I don't know why you think things are worse here than US and UK, their GDP has dipped much more sharply than ours and they are more exposed to financial services (especially UK with London).
