property doomed look at graph, page-36

LOL

what ever

FACT

Fuel price in 1980 was between $0.30 and $0.35 it is now 4.5 to 5 times higher

A litre of milk in 1980 was approx $0.60 it is now 4.5 times
higher

A loaf of bread was around $0.70 in 1980 it is now around 4.5 times higher

eggs in 1980 were approx $1.25 per doz they are now around 4.5 times higher

the average annual wage in 1980 was around $13,000 it is now around 4.5 times higher



BUT

the median property price was approx $42K in 1980 and IT IS NOW 8.8 TIMES HIGHER

So the CPI, basic food items, wages have all seen similar growth since 1980

but property which was following all these items up to the late 90's has now experienced double the growth.

yet some deluded prem-a-property bulls are still convinced property prices are not over valued and are compatable with other costs over this time.

LOL