property bubble confirmed -finally

  1. 871 Posts.
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    The economist magazine has this week done an in-depth survey on this property bubble occuring around the world saying that australia will, not probably, but will lose at least 30% value.
    check it out (there are about 8 separate studies)

    http://www.economist.com/displaystory.cfm?story_id=1794873

    Once you read this i expect owners will sell and non-owners will put off buying for a while to come.
    ALL the invalid excuses from posters recently suggesting there is no bubble have been put to the test.
    Refutes myths such as
    - Property always goes up
    - "but this time its different"
    - immigration means demand and thus higher prices
    - limited land supply, etc
 
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