gold, page-84423

You picked the one market that proves your point, how many people have access to buy a house in Sydney? I certainly don't. And I wouldn't, they have pulled back by a couple hundred thousand dollars in the last couple of years, how many years of rent is that, and don't forget to deduct the expenses as well. The leverage is great on the run up but there will be a lot of people hurting very soon I would imagine. How many people can afford to buy a place that is almost 10 times their yearly income? They can't, and with the current crisis none of them have jobs any longer. Do you really think that past performance is an indicator of future performance?
Houses have had a great run, and that makes me happy for you, by the sounds of it you have managed to set yourself up nicely, I am in the process of selling my little unit, hopefully I will make a profit on it if the offers are anything to go by, however, I don't believe that the prices can get any higher given the state of the economy, they might go up a bit more with this currency printing, but they will only have further to fall.

Also, priced in gold, Sydney house prices have fallen off a cliff since 2004, what would you attribute this to?