I couldnt agree more arthur. Its a total absurdity to relate...

I couldnt agree more arthur. Its a total absurdity to relate quality property to p/e ratio's. I've never heard of anything more ridiculous in my life. However there will be pockets of investment properties that may suffer somewhat.

The overiding basis of choice in selecting and paying for quality property is 'lifestyle'. Why do we all chase the dollar in this stockmarket game?? because we want or need a better lifestyle. We all would like a nicer car, a nicer stereo, a nicer holiday and a nicer home! Its pretty simple really, nice things including homes cost a lot of money and always will. Those of you that cannot overcome this issue will recede.

It feels good to own a quality property, especially in sydney. Something you can touch, see, use and best of all, enjoy! Its just the way life is, you settle down, find a nice wife, have some nice kids and sleep at night knowing that your future is sound and secure.

These are the values most sought after in society and this is what provides the fundamental strength in quality homes. Its not just a number, a p/e ratio etc, its actually a complicated mixture of powerful psycological forces governing our lifestyle needs or wants that we seek everyday of our lives.

If you suddenly find your dream home to raise your dream family and you can either afford to pay cash or afford to borrow for it, your not going to wait for this supposed 43% correction in the property market to eventuate before you make this lifestyle choice, you'll seize the oppurtunity with both hands i'll bet. Why??? Because it makes you happy and its what you want! Another well sought after value in society.

Unfortunately, those that disagree with this view are the ones that unknowingly desire or require these values the most.

Todays laughing stock are not those that are buying property, but those that believe in the subject text of this thread. Anyone who believes people buying property now is laughable must also believe that current property owners not selling are equally laughable. Well i dont see for sale signs up in every other house out there! That tells me you gentleman lose the argument.

no hard feelings now....

skippa