Search results

$1m house is 80% overvalued means the true value is somewhere around $555k. $555k with an 80% increase (x1.8) = $1m. Or at least I think that is where this is supposed to be going.

If I use that formula I get to within 5% of what I paid for my PPOR in October 2013... I think housing a whole will have a minor correction, or just stagnate if around the $500k mark (blue chip highest hit). If it does correct by 80% and a house costs me one years wage, well then hoorah...