just reading an article on banks (UK etc) I find it so weird. All these central banks worrying about inflation when they let properties rise 20% a year for 2 3 4 5 years on the trot Your normal consumers largest expense is property...and they let property increase like that?!. By their own rules inflation is nasty nasty.. Yet most property owners (ed mistaken) think that, because their property goes up, they are wealthier, therefore they are happy: viz vote the government back in.
Actually what surprises me the most is not this massive property inflation...but that somehow it stopped. Why did the Americans suddenly realize it was all phoooy?
Why is an eastern beaches 2 bed flat worth 540K today 380K 3 years ago?? the fact is..its not its worth 'what the market will pay' ..and the market has woken up.
Governments like to keep the beast (population) happy..i believe they should have controlled the 'happiness' to 4% property growth a year..not 20... 'cause its all getting very unhappy
