19.12.2012 - Steve Keen says odds of Australian house prices beating inflation "not good"
The likelihood of house prices rising in real terms in 2013 are “not good”, according to the University of Western Sydney’s professor Steve Keen, who says his 2008 call of a slow 40% fall in Australian house prices over the next 10 to 15 years is looking “healthy”. According to Keen, for house prices to perform better than the current inflation rate of 2% would require that property price growth start to accelerate. However, he says the opposite has been happening following a “slight uptick in nominal prices over the last six months”...............................................Full Article: Source
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