my response to the other poster with the wage to house price problem, and the apparent limited value for all house prices....ie prices cannot exceed an xxx value
then, we bulls are accused of not providing links to articles, and secondly for refusing to answer the questions he poses.... in my case, every time I post an article or an extract from one, I always provide the link.....there are no exceptions.
my response to the wage to house, and maximum price limits is this........
every week, in australia, the weekly house auction results are published, by the Real Estate Institute in each state, this is usually also reported in the news by the MSM...
the answers to both your question are published each week, houses keep selling, and increasing in prices...... if there was a limit to the value that people are prepared to pay, as per your argument, then why is that not evident in the sale prices....???
here is one link, confirming the 10% pa increase, its a rather ordinary inner city suburb, its not as expensive as other suburbs, nor as sought after, nor as pretty , in fact its rather ugly, but it is sought after, due to its close proximity to the city, and trendy Chapel St in Sth Yarra.... http://www.lookpropertygroup.com.au/currentprojects/Rue%20De%20Chapel/MarketFacts%20Snapshot%20for%20Prahran.pdf
