kingy, I appreciate your reply.You are absolutely right if I...

kingy, I appreciate your reply.

You are absolutely right if I were someone who is priced out of the housing market and cannot afford a house (let alone an investment property) out of anger, frustration and being in denial. Many of the so called "property bears" posters are just that.

I don't belong to this category. In fact, I have relatives who (some heavily with huge debt) invested in property in the last few years that I hopefully may NOT have to financially "assist". There is only so much I can do.

I may feel indignant and powerless now at their dogmatic and suicidal financial positions, but the human damages and wealth destruction will be real and hurtful even when I'm not directly in harms way.

The likes of Craig and Shane - sorry can't be more specific (of the finance sector) were encouraging people to buy shares when the ASX hit 6900. They continued to do so when it had a "5" in front of it. With a "4" in front of it, they called that the consolidation phase before a massive upturn.

The the faeces hit the fan as it were and they blended into the mainstream and suggested a low of 4000. Guess what, the ASX hit 3100. These guys did NOT a say a word for months. They ducked and weaved in TV interviews seemingly lost. Only did the share market staged a huge comeback, are they now coming back gun-blazing.

Unfortunately, these same dudes are playing Pipe Pipers luring the gullible and greedy into the housing abyss. Their employers are banks and/or have significant exposures to the residential and commercial property sector. Both of which are at extreme risk of meltdown in 2010.

Guess what, in 2 years time you won't even remember what they have said in 2009/early 2010 while staring into the housing ashes.