If you look at history, estimates suggest property is the most overvalued we've seen in the last 50 to 60 years. We've seen price falls before, particularly in real terms, but even in nominal terms say, in the late 1990s, prices did drop a bit, but given the extent to which prices went up over the past five or six years, prices might have further to go down than in living memory.
Kieran Trass是何许人也? 他是大名鼎鼎 Grow Rich with The Property Cycle的作者, 此君乃上一地产牛市时的风云人物。阿海推荐的书中就有他的这一本。