Skol ...Best u do a little reading on bubbles ....
My favourite was the tulip mania in the 17th century ... 1 tulip was worth more than a luxurious house lol
When prices go parabolic as we have seen across the board in the property market ...you know the end is nearing ...Unfortunately the falls are more spectacular than the rises ..
What's of concern.. is when you hear that prices will keep on going up (hence the rush to buy for the fear of missing out)
With every bubble ...you get the same process ..
One warning sign is the plethora of construction taking advantage of the property boom..
There was a popular street in Melbourne that I hadn't visited for at least 2 years ....I was amazed and perplexed at the amount of new apartment blocks that had gone vertical (every corner)
Unfortunately it will burst like every other bubble in history ...Banks will fail ... property tycoons will go under ...delinquencies will skyrocket...families will be devastated....The block (reality t.v) will be a distant memory and so on.
