Hi Kingpins Retired now, but yes have owned several estate...

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    Hi Kingpins
    Retired now, but yes have owned several estate agencies in my time and born into a RE family. Don't get me wrong - no doubt its a bear market RE wise, but I'm not seeing the potential for 40/60% falls at this time, at least not while employment is steady and China and India are still enjoying significant growth. I'm not trying to talk up the game, given I've got no pecuniary interest, and sure I've seen a few drastic falls in RE value over my time. But nothing like the potential for a 60% fall as the poster I responded to predicted. Sure its possible - anything is possible, but all I'm seeing thus far is a healthy, overdue correction with a 20% fall on the horizon for Sydney and Melbourne. That said, its still a very fragmented market and numerous regional areas are still experiencing growth, albeit off a low bar. Of course we have no control over the machinations of our politicians and the BEOT. Its chaos theory 101. And that's what makes markets difficult/impossible to predict, both for analysts and the man in the street. That is why I caution the folks here not to be overly convinced by the media hype.
 
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