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| Google Trends - "housing bubble" in Australia |
Saturday, May 23, 2015
Australian Housing time has come ...
Based on debt levels, economic conditions, mining bust and finally google trends data (see my previous post) I predict that peak price will be reached within 6 months. It will be followed by, at the beginning, slow decline over 6-12 months and than accelerated collapse.
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Australia isn't one market.. like comparing Surry Hills in Sydney with Kallangur in Brisbane, it's automatic foot-in-mouth material mate. Some suburbs the price of a house it the cost of building it, some suburbs it is due to popularity and demand. Generalising about real estate is a fools game.
ReplyDeletethere is no single suburb in Australia where price of a house is cost of building it. Time will tell who is the fool. Just remember that prices fel the most and recovered the slowest in the cheapest suburbs of USA
ReplyDeleteGee Raveswei - you are persistent. 5 years of waiting for the "bubble" to pop - yet no admission you were hopelessly wrong to begin with. Why don't you come back to Australian Property Forum and face the music.
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