take a look here – http://www.imf.org/external/research/housing/index.htm and here -> http://www.abc.net.au/news/2014-06-12/janda-its-official-property-prices-are-getting-out-of-reach/5517674
When things are this HOT for this LONG, something is bound to give..
If interest rates take a spike here, watch the fallout.
DO NOT BUY PROPERTY AT THE MOMENT.
IF YOU HAVE SOME AND ARE NOT AFRAID OF TAKING A 30-40% HIT, THEN SIT TIGHT….OTHERWISE, SELL UP AND RENT FOR 2 YEARS THEN BUY YOUR OLD PLACE BACK AT A BARGAIN PRICE…