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Home ownership - dark side of the boom : Comments
By Kim Carr, published 1/11/2006It’s official - home ownership is less affordable than it has ever been before.
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Like the last Reserve Bank Governor I wonder where all the home buyers are going to come from when unemployment rises and the level of household income falls as the Industrial Relations laws start to bite.
Spider clearly house prices are going to fall, especially in Perth now that the resources boom has peaked and eastern states investors are starting to get burned.
Spider in the 1990s average house prices in the LaTrobe Valley in Victoria dropped from $120,000 to $30,000 as the State Electricity Commission was privatised