UT RE:Gee now we have to go back 27 years to get what is considered a good deal! When will some of you guys get your head out of the past - times have changed simple as that. The property price to wage ratio will not likely be at what it peaked at but it is just as unlikely to be back at the same ratio it was 27 years ago as well. Try telling this to home owners in the USA, UK. Ireland, Spain and other places where the property bubble has burst.
IMO, the continued strength of the Oz. property depends on China. China is experiencing accelerating inflation, a real estate bubble of epic proportions, a looming banking crisis due to the billions in bad loans made by Chinese banks as commanded by the Chinese government, and growing social unrest due to rising food and energy prices.
