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Aussie homes will halve in value - forecaster

Posted on 03 October 2011

The next global recession will make the GFC look like a picnic, with property prices to fall by almost half across Australia. That’s the view of American economic forecaster Harry Dent, who says Australia could be dragged into a massive global economic slowdown, brought on by Europe’s sovereign debt crisis.
He says the crash in Australian property prices will be similar to what was seen in California, where values have dropped by about 40% since the crisis began……………………………………….Full Article: Source

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