Australian Housing Market ? 2009 Must have further to fall?
1: International overseas buyers will sell their Australian houses and can not afford to buy till the marker recovers.Because of the market slowdown forced to sell like some Australians.
2:Australian unemployment to rise forcing many to sell. Mortgage stress already hits 800,000 people.
3:When shares start to recover their will be a surge from investment housing to stock market.
4: Australian housing market bubbled higher than anywhere else in the the world making it the worlds most unaffordable.
Do other agree with this? Does this sound right?
I suspect that they could fall by another 10-20%
What are your thoughts?
http://www.superreview.com.au/article/Property-values-to-fall-further/433798.aspx
http://www.dailyreckoning.com.au/australian-housing-market-4/2008/01/21/
Yes. I think people will be shocked at how much further it will fall. More than another 20%..
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