I wasnt going to give this question its own thread but im very interetsed in what people think on the subject.
Right or wrong. Australian property prices are frequently compared to other countries. With the end result of Australian values looking very overpriced in many areas.Now we have all heard the reasons why so i wont go there.
Now i ask is it fair to compare values to countries that are in recessions and massive debt problems. To me this is comparing countries while they are at different stages of economic prosperity/slump/crash whatever.
So what do we expect will happen to property values in problem countries after they start there sustained recovery.
Example would be the states. Yeah heaps cheaper than here.
But when/if they recover do we expect the values to stay low, start a modest recovery back to average growth, or do we expect a quite rapid recovery in values back to previose highs or beyond when there economies allow.
I ask because of my thoughts on where we are heading.
I believe Australia will see modest growth over the next 7 to 10 years tracking cpi give or take before we see any significant boom.
But i also believe many of the countries that are now in trouble. Will see great growth within this same period possibly overtaking Australia's position in the housing affordability ladder.This will depend completely on the size of each countries recovery.
I have no graphs,charts or insider information. just a gut feeling from what i see.
So what are other peoples thoughts. How do we think these countries will perform in the decade of recovery compared to Australias hopefully steady as she goes approach.
Cheers
Right or wrong. Australian property prices are frequently compared to other countries. With the end result of Australian values looking very overpriced in many areas.Now we have all heard the reasons why so i wont go there.
Now i ask is it fair to compare values to countries that are in recessions and massive debt problems. To me this is comparing countries while they are at different stages of economic prosperity/slump/crash whatever.
So what do we expect will happen to property values in problem countries after they start there sustained recovery.
Example would be the states. Yeah heaps cheaper than here.
But when/if they recover do we expect the values to stay low, start a modest recovery back to average growth, or do we expect a quite rapid recovery in values back to previose highs or beyond when there economies allow.
I ask because of my thoughts on where we are heading.
I believe Australia will see modest growth over the next 7 to 10 years tracking cpi give or take before we see any significant boom.
But i also believe many of the countries that are now in trouble. Will see great growth within this same period possibly overtaking Australia's position in the housing affordability ladder.This will depend completely on the size of each countries recovery.
I have no graphs,charts or insider information. just a gut feeling from what i see.
So what are other peoples thoughts. How do we think these countries will perform in the decade of recovery compared to Australias hopefully steady as she goes approach.
Cheers