I know this graph is slightly out of date now but there's a one thing in particular that stands out to me.
If the Perth pricing downturn was because the prices got overheated in the boom; why are prices now lower than they were pre-boom?
Is it purely FONGO and tightened credit that continues to drag prices down even though it rationally should have bottomed out? I mean, it was FOMO and loose credit that fueled the irrational price increases over East, so it makes sense that it could occur in the opposite direction too.
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I know this graph is slightly out of date now but there's a one...
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