why property prices will/ won't crash, page-18

the irrational exuberance as per the stock market this week tells me nothing much has changed...for some of the people....the same irrational actions that sent the same market soaring before...are at it again....
absolutely no logical reason behind it.....
but I bet there are a lot less players now.....
watch it twist and turn and be even more volatile than in the past......
on the other hand....think today I gave two examples of people buying affordable properties in the 80's....one sold last year for 5 times the cost...the other is still holding....his 65.000 investment in a block of 6 flats...is now worth about a mill...but returning 70,000 pa...
I know 20-30 years is a long time for a good return...but in each case they were investing in their future and retirement...they were not predicting to make a killing in the short term...each case were holding for the combined capital appreciation, while earning an income
no irrational exuberance here