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Well my reasoning is as follows, assuming of course this graph is an accurate representation of what happens in the property market.... In my view 2007/2008 would be the height of our property market, the "new paradigm". Leading up to that period it would be safe to assume we were in the...

the only thing wrong with the graph above is the scale on the x axis. its definitely not in the "bear trap" phase...

wow that graph is almost a mirror to the Australian Property Market. looks like we are in the "return to normal" phase. Considering our bubble hasn't really "popped", just deflated a little and we have had some modest improvements recently....