http://www.dailyreckoning.com.au/house-prices-nz-uk/2007/06/21/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 10:39:45 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/house-prices-nz-uk/2007/06/21/comment-page-1/#comment-2788 Homes in London Thu, 26 Jul 2007 11:16:52 +0000 http://www.dailyreckoning.com.au/house-prices-nz-uk/2007/06/21/#comment-2788 David Caudery - I really hope this will not be the case for London, UK! David Caudery - I really hope this will not be the case for London, UK!

]]> http://www.dailyreckoning.com.au/house-prices-nz-uk/2007/06/21/comment-page-1/#comment-2682 David Caudery Thu, 19 Jul 2007 03:59:54 +0000 http://www.dailyreckoning.com.au/house-prices-nz-uk/2007/06/21/#comment-2682 Before retirement I was Marketing Executive for a major Melbourne (Oz) multi-office real estate company. Developments in Oz from 1986-90 have parallels with what appears to be happening now. Interest rates kept increasing to try to slow inflation but house prices kept rising until, at the beginning of 1990 they were 15-17%! For a year or more the R E people had been expecting prices to slow down - when they eventually did prices not only stopped rising - they largely collapsed, especially the high priced stuff that spec builders had been making a fortune out of - prices tumbled in a free fall as much as 40% and there were many bankruptsies. Before retirement I was Marketing Executive for a major Melbourne (Oz) multi-office real estate company. Developments in Oz from 1986-90 have parallels with what appears to be happening now. Interest rates kept increasing to try to slow inflation but house prices kept rising until, at the beginning of 1990 they were 15-17%! For a year or more the R E people had been expecting prices to slow down - when they eventually did prices not only stopped rising - they largely collapsed, especially the high priced stuff that spec builders had been making a fortune out of - prices tumbled in a free fall as much as 40% and there were many bankruptsies.

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