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Reducing the real value of the mortgage and increasing the nominal value of the yield. However, why should we be surprised about it. Isn't that the case most of the time? A property is always a property but, on the other hand a dollar 10y, 20y, 50y, etc years ago, isn't the same any more :eek:

Following on the above and if we believe that current inflation is at 3.6% pa all we need to add is GDP growth on top of it. The end result is that property will be merely indexing itself by inflation but not having any or minimal real growth in the next 3 years (according to the article).