It's basic supply and demand, rights to land is only decreasing...

It's basic supply and demand, rights to land is only decreasing as population growth/immigration increases. What you need to take into account, that yes generally with a weak economy you'd expect prices to follow. But with the current housing supply deficit, demand will always outstrip supply and that's just how this current system works. I am not here to argue how ethical this is, I'm just saying, CBA is reflecting the strong demand for aus property in light of favorable conditions like inflation from money printing, and a weak USD, which tends to also attract more overseas investment. With all the tariff risks, what happens if we head into a period of hyperinflation next?, gold is a telling tale of what the market expects.

This is also my opinion as to why CBA is leagues ahead of the other big four(with the only threat imo being MQG), it's based on the quality of the loan book, a weaker economy with stronger clients ahead of their payments are likely to weather an economic downturn, and talking ethics, with current property prices the market is likely occupied by the cashed up elite not the poor battler trying purchase their first home. Life is not fair, but here we are.