Tony wrote: "If you tried to sell a young person a Big Mac for $20 they would know they were being ripped off,yet tell them houses are worth $400k and they believe it??"
This is a bit harsh on "young people"...bit of a generalisation there. Also I know a lot of "young people" who have no choice but to buy a house or they may miss out. Its not their fault, just bad timing.
I dont beleive Australia is in a for a major recession, nor do I think property prices will go back down. There is not enough land to feed the demand of the rapidly growing population. Its basic supply and demand. Sure there may be cycles within that but its on the up IMO.
