Posted by NY 986 on February 04, 2012 at 18:48:50 from (67.142.178.23):
In Reply to: Land prices? posted by WJD on February 04, 2012 at 17:58:33:
I don't know about a bubble but I think a good chance of price erosion. A few things to take into consideration is the chance the government raises interest rates to in part make its debt more palatable to debt holders. Also, at some point the government will have to impose serious taxation as another means to address debt which will wring previously discretionary money out of the economy. Of course when you have a multitude of so-called experts trumpeting land prices have no place to go but up is the perfect time to be scared of a bubble. The reasons change over time but price corrections will happen. Heavy foreign investment would help stem that but do we want extremely heavy foreign investment here. Also, the heavy spenders tend to be late middle age and older. As they exit the market it will fall to the younger generations who will have less disposable income so therefore they will have less to bid on things such as real estate.
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