As this simplistic as this may sound cha, IMO many folk have forgotten or lost the understanding that a "house" is merely a form of shelter from the elements, a necessity just like food & water.
The "house" has become an ATM or a vehicle used to create wealth, it's no doubt worked for many, it has/will however fail for many others.
I too believe in property based on the above premise - a form of shelter for my family. It's a long term investment.
The average time between house moves (purchasers not rentals) in Australia is five years, many forget to take into account the associated costs of this process when announcing their terrific profits from their "property investments".
Intersting times ahead in the residential property market I believe.
