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Forums-> Australian Bubble Forum-> Likely outcome(s) of the present situation??
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Likely outcome(s) of the present situation??
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Looking around this, and other sites, there is good evidence that the present situation is very likely to change (i.e. no guarantee that it will change, but change is probable).
Comparing the situation here with the situation (past and present) in Japan, US and UK, it seems that we have a higher proportion of properties "owned" as investments rather than owned as functional living spaces. This is certainly true in comparison with Japan, and true in comparison with the US.
If this is the true case, then the situation, and progression thereof, once "Residential asset prices" start to fall might be significantly different to the observed situation in Japan and the US. Not having access to a reliable crystal ball of course makes any predictions akin to guesstimates, however the market differences could well be a significant deciding factor.
Any thoughts on the outcome scenarios, folks? I'm a Chemist so my knowledge of economics is hardly world class, however from a purely statistical viewpoint I'd expect a faster "deposition" of investment ptoperties on the Market once the downturn becomes evident, however applying population stats to a small population is a bit fraught.
I note that activity at the expensive end of Town is doing just fine - fuelled by big bonuses in the FIRE economy (you know, the economic engine whose failure has led to the present fiasco!) Plenty of sales in the $6 million plus range (but seemingly not so much activity in the "Mr & Mrs Average" range!)
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