Ann: Shaw and Partners Emerging Leaders Presentation, page-38

Interesting stuff. I think the bell has rung on property. Is there any one saying they will keep rising. I think not . Past behaviour is a good indicator of future behaviour .Based on past cycles property should begain to fall if it hasn't already. The fall should then accelerate. The scary bit. It then bottoms and stays there for years. Nothing to get excited about.Mny's customers don't own their houses . The only issue is employment. Past recessions have been preceded by rampant excesses that need to be washed out. I think we just have a garden variety of excess in the property market. The Nobby guy around the bbq is about to tone down his mantra about property. The guy who has not paid his telstra bill will still need his hsv commodore.