I gave it a thumbs up, but that doesn't mean I think the bubble will pop though.
I expect property price to do little for years to come. Certainly nothing like we have seen over the last 5 years. Wages just havn't kept up to keep that up!
Having said that, I'm currently building a house with my soon to be wife. I'm more than happy to be out of the rent cycle and paying my own place off so that we can start a family. Won't be moving for years to come, though the morgage will be scary....about $800/week @ current rates which is about 60% of our take home income. Even if the house value falls, we aren't moving so I'm still happy to pay our own place off rather than someone elses.
A new job next year will help as Tyco ( company I work for ) have had a pay freeze going for 2 years and we've just been given a 1.5% pay increase...almost laughable if it didn't have such an impact on our ability to cover the costs of living. They can get stuffed as staff are already beginning to leave in droves :)
Housing will stay boyant though i believe as more and more want to move here and away from the troubles they have overseas.
