Three Reasons Why We Have No Property Bubble
There is little chance of a housing market crash this year, says HSBC chief economist Paul Bloxham as part of his macro-economic outlook for 2012.
Bloxham says there are three main reasons why prices won’t plummet: the majority of households can service their debt; the undersupply of housing is growing at a greater rate than the decline in population growth; and there is strong demand for housing close to major urban areas.