House Prices Slide in Australia

Australia: a sign of things to come

Very interesting article from an independant Ozzie organisation.
(center for independent studies)

"The house price bubble has finally burst"

What were the factors contributing to the boom and bust ?

1. Low interest rates
2. Demographics
3. Investor speculation.

That kinda rings familiar.

[broken link removed]

Billions were wiped of the value of property stocks in Australia today.

Australia is often touted as the "canary in the coalmine" - the sign of things to come. Are property stocks vulnerable here ?

Quote:
"The carnage started at the opening bell as fund managers and brokers reacted to official confirmation from developers that there was a glut of apartments on the market that investors were not buying"


http://www.smh.com.au/news/Business...n/2005/05/04/1115092565346.html?oneclick=true