anotherbusdriver
Yes it certainly has. With the huge mess that exists in the US the days of easy and cheap credit there are over. Unless HK removes its currency peg to the US$, which I doubt it will do any time soon, cheap credit here is also a thing of the past.
As for the property market in Australia, high interest rates there are taking there toll. I personally can see prices in Darwin and Perth which have rode on the back of the resources boom and enjoyed substantial price rises over the last few years most affected as the global slow down effects the resources sector.
AUSTRALIAN BUREAU OF STATISTICS JUNE KEY HOUSE PRICE FIGURES
Mar Qtr 08 to Jun Qtr 08
Established house prices % change
Weighted average of eight capital cities -0.3
Sydney 0.3
Melbourne -0.3
Brisbane 0.6
Adelaide 0.4
Perth -2.4
Hobart -2.0
Darwin 1.9
Canberra -1.4