There were a number of stories in Thursday's Australian Financial Review (28 July 2011) about residential property. Reading the articles, it seems like no one knows what is going on. Just a bunch of people taking guesses. Some quotes:"House prices fall for sixth month""Analysts have reversed their position expectations for the housing market and warn there is a significant risk of another round of price falls as a picture emerges of tight consumer spending and fears of global fallout from the US debt crisis."Westpac said that the housing market was "delicately poised.""We think there are significant downside risks for the housing market over the next 12 months.""... several capitals showing no sign of bottoming as the usual winter slowdown in buying activity compounded already weak market conditions."Buyers and sellers were "waiting for spring.""... significant drops in hose prices were unlikely because there was no reason to expect a big increase in forced selling.""tough trading conditions in Queensland" for a cautious Australand"Queensland, Victoria and WA were all experiencing slow-downs.""We do not expect sentiment in SE Queensland to recover any time soon.""...the apocalypse is yet to arrive. I don't think it will.""Prices are falling in Brisbane; they have collapsed on the Gold and Sunshine coasts.""the worst since the 1960s""investors are unlikely to return in numbers until prices start rising.""House and unit prices in Brisbane have dropped further and analysts have mixed views about whether they have yet reached the bottom.""In fact, we can't see there being any bottoming [in Qld prices] until 2012.""the value proposition in Brisbane now was quite compelling.""the [Brisbane] market may be at or approaching the bottom of the cycle."
"What is the property market doing?"
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