If I have to explain it to you, it's not funny anymore :D But...

If I have to explain it to you, it's not funny anymore

But whatever man... It's amazing that some people would consider themselves intelligent and well informed yet see nothing wrong with the current property market.

I mean, inflation-adjusted wages has been practically stagnant for the past 3 decades. Job security is a thing of the past. The price of practically all essentials has gone sky high - all in an environment where oil just crashed.

Australian household is the most indebted it's ever been - at some $1.80 owed for every dollar earned! The world economy barely recovers for billions of people... major powers are on the collision course for a world war in Eastern Europe, in the Middle East, in Africa, in the South China Sea, the East China Sea, the Korean Peninsular...

A people who were generous and welcoming to refugees and immigrants now loathe them, blame them for their hardship; would burn down luxury cars at any protest, start riots and vote out those they considered the establishment whenever they're permitted to peacefully express their thoughts...

Yet an aged and decrepit property that was sold for the equivalent of $250k 30 years ago are now being sold at $800 to $1m.

Yup. Nothing wrong with these pictures. I'm just uninformed and being an alarmist.

The Florida property crash soon enough led to the Great Depression; the Japanese property crash still impact its people and economy; the GFC; the Irish property crash; Spain; Brazil.... But Sydney and Melbourne in Australia are special. Real special.