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The Masked Tulip

Australia Facing Housing Slump

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Prices in the property market — described by the International Monetary Fund in April as one of the world's most "overvalued" — will fall 30 percent by 2010, according to Gerard Minack, senior economist at Morgan Stanley in Sydney. Prices dropped in all of Australia's major cities last month for the first time since just before the Great Depression.

"I panicked" when the figures came in, said John Edwards, chief executive officer of Residex., a Sydney company that tracks property prices. "We've been doing this for 20 years and have data that goes as far back as 1865, and it's really abnormal."

"Australia is headed for a once-in-100-year real-estate slump," Edwards said. "I have never seen the convergence of so many negatives."
"By every metric I can think of, Australian houses are too expensive," Minack said, costing an average of six years' earnings, double what Americans paid before their property market started falling in 2006.

Full article:

http://www.iht.com/articles/2008/07/31/pro...reaus-story.php

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Did you ever think about adding your tuppence worth to the perfectly good thread on Australias housing problems.

http://www.housepricecrash.co.uk/forum/ind...showtopic=76957

Or is there a league table of who starts the most threads?

"Put the handbag down and step away from the thread, madam!"

Ya flamin' gallah, long threads are tedious, we need bite sized headlines.

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"Put the handbag down and step away from the thread, madam!"

Ya flamin' gallah, long threads are tedious, we need bite sized headlines.

I agree. If I see a thread over 3 or 4 pages I simply ignore it.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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