| Australian house prices could decline by more than 5% in 2012 if China's economy experiences a soft landing with GDP growth at about 8%, according to Standard & Poor’s. But in the event of the less-likely scenario, under which China's economy slows to 5% GDP growth, Australia could be sent into recession.
China's hard landing likely flow-on effect of higher unemployment could trigger a sharp decline in Australian house prices of 20% or more, according to S&P who rate the prospect of a hard landing happening at 10%...............................................Full Article: Source
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