In Australia after the last run up, they basically held flat for 10 years or more and then had another big run up. My thought is that the market will fall for another year and then just flat line for about 5 years. I know that I am saving and ready to act. I just wonder if the frenzy mentality could start again if the backlog of buyers keeps growing.. Granted lending standards would stand in the way of that, but I think lenders would do it all over again if they could. The people I know who want to buy are very, very hungry for a home. Thus I feel that the amount of ready and willing buyers is still at all time highs. Plus, I know people with tons of equity still looking for a deal on a second home.
