Very true, a succession of Lab and Lib Govts fueled this, there were no tax incentives for individuals to invest in infrastructure or national savings.
All pollies are s*it scared to do away with negative gearing, won't happen in the future either.
Basically we are on treadmill running on overdrive, there are lessons to be learnt yet again - similar to 1989 - 1990, with a kicker - level of borrowings are higher this time around.
As always timing is everything, I feel for the recent young FHB they are basically being screwed now by Fed Govt.
I am not a perma bear, just been around long enough to experience a number of market cycles - there are currently some cracker opportunites for the astute.
