The current rise in property prices in Australia, NZ, UK and a few other countries are a flash in the pan or a 'false dawn' according to the FT, and there's more carnage to come.
The price increases are due to a temporary shortage of properties for sale, seasonal factors and a host of other fleeting considerations.
Commercial property in the US is facing a very grim time with some down 45%.
I used to do a bit of property a few years back but got out before the current rout. Following a crash in the property market it's my observation it takes a several years for punters to regain the confidence to get back in.
Here's something from the UK.
BBC NEWS | Business | 'False dawn' in UK housing market