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A lesson in Sydney? Housing crash puts sellers in debt crisis
1points
A three-bedroom brick-veneer house in St Clair sold for just $260,000 at the weekend - down about 42 per cent from its last sale at $450,000 in 2003 in a further sign of the depressed state of the Sydney property market.
Source: http://www.smh.com.au/news/national/housing-crash-puts-selle…
Comments
This may be a wake-up call for everyone here in Perth. Who would have thought this could happen in Sydney!
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It shouldn’t surprise anybody. It’s happened before in Sydney around 1990-91 during the “recession we had to have” and probably a few times before that in other crashes. It’s only a matter of time before we see it happen in Perth too.
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