wa property will become cheap as chips

Interersting discussion last night with a group of freinds some from the realestate industry, oh its all doom and gloom, we all commented on this 40% tax of K Rudd and the devestation it will cause, his equating it to the gas industry, and yet we all shake our heads and ask, if we relied on the gas industry, it takes them 25yrs to get one project up and running, so in the mean time everyone is unemployed, but dont worry, properties will become cheap as chip's, everyone will be desperate to leave to the eastern states, so who will buy our properties in the west.
Very long term investors, just wait 25yrs for the next boom for one project
A dinner conversation