True enough, you did not hear from me because I did not even see your post until tonight (when I did a cursory Grant62 body-text search).
As for property, there is one thing you should know about me - I buy, but do not sell (with one exception, in Italy in 2001). I do not buy to speculate. I buy to build a viable, ongoing, property tenancy portfolio which will eventually be passed down through the family. And, when I buy, I also move quickly to pay off any associated debt.
I will, therefore, let you know when next I buy. I will keep scouting for appropriate properties should they come into play.
In the meantime, I have decided where I am going to landbank a prospective development in Melbourne (ignoring my earlier Adelaide comments). Regarding Melbourne, I already have one of the target properties in place and intend buying the neighbouring properties when they eventually come onto the market. To me though, it doesn't really matter whether I have to wait 1, 2, 5, 10 years, or more, to secure this.
As for The Economist articles, it also serves observers well to read carefully the articles, and to take note of the varied starting points of the comparative graphs. In particular, I liked how The Economist was premising most of its comments on the basis of a 1995 starting point (ie: at the very bottom of our previous property cycle). Other comparative graphs, dating back to 1975, did not rate anywhere near as much attention from The Economist, as those graphs were nowhere near as contentious as the 1995 SP (starting point) graphs.
I will, however, agree with you regarding one point - shows such as The Block, and Hot Property will do nothing except encourage reckless activity and behaviour (which is one reason why I will continue to stay outside of blazing hot spots).
