I don't live in Oz permanently, hence why I sold out of the property market and I don't regret it one bit.
Over the last couple of years, Equities and Cash have provided a much better return than being locked into some overpriced mortgage. To think bricks and mortar will out perform equities anytime soon is wishful thinking, and to think I'll be missing the boat by not buying property now is just ludicrous.
As for Melbourne, I have a US passport and family in California and would take a 5 bedroom house in Lake Tahoe over some crappy over priced home in Melbourne any day of the week.
