what about demographics? I don't have the figures but haven't we had a population growth that outstripped supply?
IT explains the massive growth over CPI (ie its not our money). We host and assist international students into australia - and let me tell you these families just BUY houses at whatever price - then renovate them!
Anyway when china comes off the boil, THEN we may have a problem ;) The Age had an interesting article about China Iron Ore factories shutting down..... sounds ominous. RIO, FMG, BHP no wonder there SP has been hammered - this worries more in relation to house prices.
As a result, surely comparing 83 to 09 is like comparing apples and oranges?
