Dudes This time things are different hey. My friend who is a real estate agent said Perth house prices should be going for 2 mill$ each on average, currently they are now only about 10x gross wage as opposed to historically 3-4x. He explained to me that because of a lot of changes to the way the governemnt does things commodities will be really good for a long time and they have inflation and deflation totally under control. Unemployment is at record lows and there still arent enough people to fill the jobs. Because things are differnent now and we have a new paradigm and wa isnt what it was 5 years ago thats why its ok now and an average house should be 20x the gross annual wage.
You guys remind on the nasdaq market, remember when it got to 5000 and it was a new paradigm, things were different then. I bought 500 grands worth of davnet at $3.50 a share, was easy money. Back then fundamentals didnt matter, who cares about yield and debt and the economy, jesus that stuff is for the old timers who never go anywhere. My friend said I paid a ridiculous price and they would fall back to $3, there was no way that could happen, if they fell back a little everyone would buy more. What a fool he was!!
