With the significant drop in residential housing prices in several major cities in the past few years, much has been written about the Australian residential housing market. Currently there appear to be two extreme market views amongst the often self-appointed “property experts”. Some still wheel out the old “property will double every seven years” line. On the other hand, property doomsayers say it’s hugely overvalued and overindebted with massive mortgage stress and so a 40% or so crash is inevitable.
The attached article from Shane Oliver (Chief Economist, AMP Capital) provides some useful perspective on all this. Click here
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