A ticking time bomb: Is 60 Minutes right to say house prices will fall 40% in the next year?

PHOTO: Investment U

Are property prices in Melbourne and Sydney really going to fall by 40%?

Well, if you believe what was said on Channel Nine’s 60 Minutes last weekend we’re really in for trouble.

Here’s how reporter Tom Steinfort opened the segment:

“It’s no secret that Australia is experiencing a downturn in the property market. But for Aussies who own their own home or have a mortgage, there’s worse news. Many believe calling it a downturn is foolishly optimistic — the slump we are in is more like falling off a cliff.

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