clearance rate for melbourne 21st aug 2010, page-9

I'm a property owner.. who happens to nevertheless be a bear at the moment.

I agree with owning property for the long term - but see that it has become unsustainably expensive ... compared to incomes.

The incomes have not been increasing to keep up.

If the next generations can't own their own house or afford rents - we need to ask just how lucky this country really is.

If there wont be any disposable incomes left - how is the real economy going to keep growing, as the economy is 75% based on the consumer spending and therefore disposable income.

If you don't have any disposable income left after mortgage payments and rental payments - you are no longer enjoying a high standard of living - and the economy suffers.