| Exactly! Here in Australia we are seeing remarkable growth in property prices over the last quarter! Sydney prices grew at $AU1200 per day! In the residential housing market there just isn’t enough supply! I can say anecdotally that’s younger buyers are being accompanied by their parents, who are assisting with finance. Its well observed that people are queuing down the street to inspect properties, and literally writing offers out on the kitchen table! Properties are selling on minutes, with prices being pushed up by desperate buyers with access to finance from loans with low interest rates with deposits from their parents! When you take a 20 or 30 year mortgage, what’s $20 or $30k here and there! That’s what’s driving prices up! Supply and demand! |