keens ridiculous scenario, page-5

With property at a historical high point in relation to wages, higher than even the US was before their crash where is there left to go for i? With wealth collapsing daily do you really think people will continue driving the bubble up? Faced with a recession the bottom of the Perth property market where flats were selling for 3 times their prices of a few years ago for sale signs are going up everywhere and prices are dropping considerably.
I'm a first homebuyer and will be waiting at least 6 months to see where the bottom ends up.