I have been trawling for some D&G from years past, to compare with the D&G now running rampant.
My favourite is this one:
http://www.theage.com.au/articles/2002/09/28/1032734371850.html
"This suggested that any further impact on people's incomes, confidence or spending capacity would result in a lot less people with the same capacity to pay. "When those people leave the market, that should lead to quite a large fall in prices," he said."
And this is good too:
http://www.theage.com.au/articles/2002/06/03/1022982670710.html
"On Friday, in his testimony to a parliamentary committee hearing, Mr Macfarlane voiced fears that too many home buyers were overextending themselves, borrowing heavily to invest at the top of the market without considering the consequences of being locked into high debt. What would be their fate if house prices were to fall?"
Points I think are interesting about those two articles:
- Did prices in Melbourne fall in the twelve months after September 2002? I don't think so, but the REIV charts don't go back that far.
- If you had bought in Melbourne in June 2002, and managed to hold until now .. would you regret buying "at the peak" as the article puts it?
My favourite is this one:
http://www.theage.com.au/articles/2002/09/28/1032734371850.html
"This suggested that any further impact on people's incomes, confidence or spending capacity would result in a lot less people with the same capacity to pay. "When those people leave the market, that should lead to quite a large fall in prices," he said."
And this is good too:
http://www.theage.com.au/articles/2002/06/03/1022982670710.html
"On Friday, in his testimony to a parliamentary committee hearing, Mr Macfarlane voiced fears that too many home buyers were overextending themselves, borrowing heavily to invest at the top of the market without considering the consequences of being locked into high debt. What would be their fate if house prices were to fall?"
Points I think are interesting about those two articles:
- Did prices in Melbourne fall in the twelve months after September 2002? I don't think so, but the REIV charts don't go back that far.
- If you had bought in Melbourne in June 2002, and managed to hold until now .. would you regret buying "at the peak" as the article puts it?