mike I was taught that companies are valued on basis of earning going forward. in the case of property they would be valued on the basis of future rents and capital gains you have a price on the market and an actual value sometimes they get out of synche however not as often as you would think the fact that all property trusts have dropped by at least 25% even the most blue chip like westfield indicates to me that the market had it right I don't think the market for residential property has got it right there is not one country other than australia where residential prices havent fall taking these two facts into cosideration, I think it is time for residential property owners to take their medicine
