I think where a lot of the analyst are getting it wrong is not understand the principal of supply and demand. The US property market crashed because of oversupply in houses where as in Australia its quite the opposite. We have a strong net migration of people coming to australia, but construction of new housing is not meeting these demands. So in the foreseeable future, I can only see property price either stay PAR or increase. Certainly rental prices will increase as more first home buyers are pushed out of the market and force to rent due to increase interest rates and house prices. So for those who already own properties, we are all in a good position.
