escape to the country , page-9

People in the 70's rode a wave of credit expansion that didnt finish until a couple of years ago.

Everyone that owned houses in Australia got rich on paper and life was good.

Everyone that bought lots of houses saved heaps in tax and enjoyed fantastic capital growth.

Good on them, they were prepared to take a chance and things worked out well for them.

Do the same thing today, and you won't be anywhere near better off.

If house prices double again in the next 7-10 years then we're in even more trouble.