Is there really a Property Bubble and is there a Housing Crash Coming?
There will always be critics from all over the world who suggest that property prices are going to crash. I’ve noticed the most recent critic, US demographer Harry Dent claiming Australian property prices could drop as much as half the value of property. He also goes on to say “… all of real estate in coastal cities all around the world are greatly overvalued and they’re all going to burst … 90 per cent in the worst case.” Harry comes to Australia every couple years – usually when he has a new book to sell and predicts a housing crash to gain huge exposure for himself and his seminars.
In the last couple of weeks this topic has made the news and what do most people do when they hear something like this on the news? They panic! They take someone’s opinion as a fact. This just goes to show how strong the media is when it comes to the impact they can have and the influence over others. All this does in turn is result in a lack of confidence which doesn’t do the housing market any favours. I have had several clients contact me over the last couple of weeks about this concerned. Is there really going to be a housing crash in Australia?
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