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Worried about property prices?

Recent news surrounding property prices is creating public hysteria to a point that isn't warranted in my opinion.

A subscriber only article on adelaidenow.com.au gave her reasons why house prices wont crash by 40 per cent as is being reported and the author outlines quite clearly why he doesn't think that's the case.

He outlines that his reasons for believing that their claims are dodgy include the following:

  • Unemployment is low and not expected to rise anytime soon

  • Australian loans are structured differently to those in the US (where many of the 'experts' are from)

  • Our banks are certainly getting tougher and asking for more financial evidence but loans are still on offer

My thoughts are that there always needs to be appropriate buffer in the budget and you need to be actively paying down your loans to get your household out of debt before retirement.