It is becoming quite a source of bemusement. Never in all the time of my investing in real estate has there ever been a consensus that it is a good time, despite that, we have gone ahead and to the consternation of the experts it defies the so called logic up go the prices over time sometimes staggeringly. If buying real estate and investing in anything was based on stupid charts , no doubt well researched you would all be multi squillionaires.
I have said it repeatedly that houses are bought in a marketplace by people who do not delve that deeply, they breed, need to feed and have shelter. Basic instincts mate and the concept that rent money is dead money is so deeply ingrained in the Aussie psyche as it is in the psyche of new immigrants , no amount of empirical bs will change that.
That coupled with the very distinct tax advantages, least of all that the home is CGT free and is a forced savings mechanism will continue to foster that dream of home ownership in a country in its infancy stage growth wise.
