Home Sellers Get Realistic in Australia; Mining Companies Going Bust in Record Numbers; Australia Headed for Disaster Zone
by Mike Shedlock
MISH’S Global Economic Trend Analysis
Real estate agents in Australia who assured everyone for years there was no housing bubble and home prices would only ever go up because there was a “shortage of houses” are now telling everyone who is stuck in a house they cannot afford that they have prices too high.
What this means of course is real estate agents are selling few homes, thus making little in commissions so they need prices to come down. What the agents don’t realize is this is the beginning of a trend and home prices, some drastically reduced already, still have much further to fall.
The Sunshine Coast Daily reports Sellers get realistic with cuts
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2012-08-25 10:31:49
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