And what did you add to the discussion with that post? Take your own advice and play the ball not the man.
I'm happy to hear anyone tell me why:
1 Housing prices at 10 times income is the new norm.
2 Australian private debt at a record 150% is sustainable.
3 60% of mortgage funds going to investors and 40% of all loans being interest only is not the sign of a market in the grip of pure speculation.
4 Losses on investment properties with tiny rental yields that are propped up by negative gearing at a time of record low interest rates is not going to end badly if the property bubble stalls or dare I say it deflates. Or interest rates begin to rise again. Or the commodities bust flows through into the larger community leading to reduced spending and higher unemployment.
5 Enforcing of the FIRB rules on residential housing is not going to also hit the markets in Sydney and Melbourne if the laws are really being flouted so widely as some industry experts are telling us.
6 And finally if property has always going in cycles of boom and bust as far as people can remember why after a 20 year boom is it "different this time". I mean really, are you naysayers even ignoring the possibility of a 10-15% correction from this year's crazy prices should any or all of the above chickens come home to roost?
