Is there going to be a crash

I’m beginning to think the state of the real estate market should be added to the list of subjects to be avoided at dinner parties.  Like religion and politics it has the potential to stir up some very heated emotions.

Property is always an emotive subject but in times of uncertainty it takes on a whole new dimension. 

Is there going to be a crash? Are we already crashing? Are we heading the way of the US or are the Australian fundamentals stronger, so the property market safer here than around the world?

I read an article yesterday in which Ian Verrender explained his belief that the Aussie property market will not crash.  What was as interesting as the piece itself were the hundreds of comments the article generated which were as diverse as they were strident.  Some were labelled doomsayers, others real estate industry apologists.

At the moment I think the only certainty is that nobody is really certain.

At the risk of sparking accusations of self interest I’m prepared to go on record saying that I do have confidence in the market even though prices are not at the same level they were several years ago.  It is a very tough market but properties are selling and delivering reasonable returns.

As to what the future holds….well I’ll keep you posted.