Words: Ashley Rigg
Published: 19th May 2011
*The end of the great Australian land bubble - STRIKE NOW
"This is end of the great Australian land bubble" says David Collier of Prosper Australia.
His organisation is calling on first time buyers to "stand aside now and buy later at much lower prices".
He prediicts "the largest erosion of wealth in our lifetimes" as land prices crash to the floor.
The reason for the bubble is the tax system, he says. Land is virtually untaxed which has been one of the catalysts of the boom.
Source: Global edge