I agree completely.
Property prices are insane - like beyond insane - propped up by cheap money and speculation. Although, it has been that way for over a decade now... every time I think it can't get any more ridiculous - egg on face.
We seemed to have reached peak property stupidity though. However, you should never underestimate the Australian fixation with property. I only have to look around the hovels being sold around me for millions of dollars.
Likewise, you only lose money if you hold cash.
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