I read all these comment of property being over priced and prediction of it collapsing and laugh.
Best decision I ever made was to buy a house, second best decision was not to sell no matter how things a looking. As I said you will always need a roof over you head.
$40k was a lot of money back then and I don't know or care to know how much interest I have paid, thou for most of it interest has been a tax deductible expense. Now worth some $600k and recent rezoning allows be to subdivide if I want.
For there to be a massive collapse in property prices there would have to be a reason for lots and lots of people to need to sell, given that the vast majority of home owners have plenty of equity and need some where to live it just is not going to happen.
Rising population and increase in cost of building also help keep demand greater than supply
