"We will see the outer suburbs return to being the place for the battlers, and the first home buyers seeking to get a foot in the door ... how it has always been up until recently (i.e. until the McMansioners decided that a lake and a park was a good enough to reason to move so far away from the city and drove up prices by creating such an artificial demand)."
There is a sort of implied presumption there, that everybody wants or needs to commute to the CBD. Its a presumption commonly made, not just you. But it isn't really true. There are a lot of people who live and work in outer suburbs and never go to the CBD.
Another comment about the price/income ratio for the Sunshine Coast, 9x.
The Sunshine Coast would have a much higher proportion of retirees who buy homes there, than other areas would have. Those people would be buying houses with the proceeds of selling other houses elsewhere, and the relationship between what they pay for their houses, and what their income is, is much less relevant than for normal first or second home buyers who are actually paying off their houses out of their normal income.
