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AUSTRALIA 
Housing prices 'not safe'
Monday, 13 October, 2008
Prime Minister Kevin Rudd said the economic downturn could hit all parts of the economy, and that included the housing market.
(AAP)
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Housing prices could be the latest sector hit by the global financial crisis, Prime Minister Kevin
Rudd has conceded.
In an interview on the Nine Network's 60 Minutes program tonight, Mr Rudd said the economic downturn could hit all parts of the economy, and that included the housing market.
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When asked if he expected house prices to fall as a result of the slump, Mr Rudd said: "Well, I don't have detailed information on various parts of the housing market, it's different across various parts of the country".
"But, you know, if the economy is being buffeted abroad, then it follows, from forces abroad, it means that it's going to impact all parts of the Australian economy as well. That's just the truth."
Source: AAP
