don't know amd...i was also too young and too dumb and too... in...

don't know amd...i was also too young and too dumb and too... in the eighties... and didn't really care about buying or investing BUT from other peoples accounts i concluded that it wasn't "that easy" getting the money!

actualy...the main difference between 'last'boom and previous booms is that (easy) AVAILABILITY of (cheap) credit !

if you think about it...why was such a "frenzy for property" created seemingly out of thin air ???

seems to me that there was a whole bunch of people trapped into renting or living in larger family arrangements (+ wannabe investors in line) due to 'strict lending practices' so when money came in flooding...they gobbled it all up !!!

it is as if 'just the fact that they are GETTING THE MONEY' was some sort of ADVANTAGE they had over others and 'that in itself' constituted A GOOD DEAL !

and then the next wave, who was also stoked to get their greasy paws on the money (finally !!!) would just pay 'whatever the prices were' as if price wasnt important...as if what WAS IMPORTANT was the fact that they 'made the cut' to get the loan from the bank !

nothing else explains paradox of last boom !

there was no major immigration, there was no (and there is no) shortage of property, nothing major has changed from 1996 to 2006 but property market still went balistic...

most likely...DUE TO CHEAP AND EASY AVAILABLE MONEY (and the fact that everyone was going to get rich by buying and selling houses "from and to" each others !!!)

crazy stuff but don't know how much longer can it last?

government has a few other things to "throw at it" in order to 'spare' the banks from getting 'whipped' but then...some correction seems inevitable !

either that or your wages will double in few years time which will 'cause inflation and interest rates to go back to 20 %...again correction !

i have to admit that i'm not sure which way this will go either (short term)...it really is that crazy...but if you can wait a year, maybe less, till things become clearer...