we are still in the 'denial' stage where people do not realise that the whole tide has turned.
its been going on for a short while and people still think that its a temporary and short-term glitch...and re agents are not helping because they are no smarter than your average citizen(if that much)...
give 'em a little while...this is a period of confused stupor before the stampedo !
wait till interest rate rises ...
p.s. are we sure that we can even call this a 'good thing' that has come to an end ?
what are we left with (that is positive)?
'perceived worth' has grown but we have no way of unleashing it without selling or 'hocking'it to the banks...
quality of life didnt change for better(on account of more expensive properties)
...quite contrary, it has even become worse due to larger debt levels...
so, we are we left with after a decade of extraordinary 'growth' ???
