Dannyf - believe whatever you want to believe, but just don't say you weren't warned!
You have just busted out the classic housing bubble cheerleader tactic - trying to take down one tiny fraction of the enormous heaving argument in favour of a bubble. Aka the straw man approach.
Even on your straw man argument, house prices in Brisbane and the Hamptons are converging for the first time. Aussie house prices are a bit like the Aussie dollar - at all time once in a generation or even once in a century highs. Up to you but I usually avoid buying investments when they are selling for record prices.
Alan Bond made Kerry Packer even richer by buying Channel Nine for a record price then Kerry bought it back for a fraction of the price! Kerry said you only get one Alan Bond in your life and I have no intention of being any vendor's Alan Bond!
