Aussies ready to strike for the sake of falling home prices

02.04.2011 09:00
Articles about real estate | Aussies ready to strike for the sake of falling home prices The country has launched a campaign calling for first home buyers to fight for the decline in property prices. A few days activists gathered five thousand signatures on the Internet. Heated discussions on this topic is also deployed in the service microblog Twitter.

Activists believe that by first home buyers are now the future of the Australian property market. If they refuse to purchase items for those exorbitant prices, which expose the developers, this will reduce demand and, consequently, the price adjustment.

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"The problem is that property prices have gone so far that even a person with good work and imposing a deposit in a bank, will not be able to buy a house in Melbourne," - says social activist David Collier.

"Housing sales will go stupid if continue to take huge bank loans that are now required to enter the property market", - adds Professor University of Sydney, Steve Keen, reports

Since 2005, residential real estate in Australia increased by 40%, while wages rose by only 24%. With 12 cities in Australia are included in the list of the 20 least affordable communities in the world. According to economist Brian Haratsisa, housing prices have become a "national disgrace" of Australia.
Content tags: Overseas property
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