bears say it like it is, page-2

Bulls hang on the premise that property always goes up. The last 30 years has been a great time for property owners.

Most bulls over the age of 50 have only ever seen property rising. They don't know anything else. As far as they are concerned property is a guaranteed rolled gold investment.

So much for modern history. Go back a few years and witness the destruction of property values due to economic calamaties in the 1890's, 1930', 1970's and early 1990's.

Sure, good times come and go and if you have a good investment you should hold it.

But never before have we seen property rise in value to the point that it costs 9 times the average wage to own.

This is the new paradym or is it. Why do people think its ok to owe a debt 9 times their average wage when no citizen every accepted this in the past. Are these borrowers being sucked in by this property boom that is popping as we speak?

We have a generation of debt slaves. That is not good for our economy because consumer spending power will diminish and lead to a recession. Property prices will ultimately decline and then its good night sweetheart.