Milesg,your points are well made and valid and I tend to agree...

Milesg,your points are well made and valid and I tend to agree with you except that the figures you give don't take everything in to account.For example back in the early 80's the average age of first home-buyer's would have been younger than is now the case.We now have first home buyers waiting until they are 30something to buy their home.Because they are a lot older they are most probably in a higher wage bracket than those of earlier generations.Younger people generally earn less as their career starts than older workers.I have not seen any figures that take this into account.Also more partners are working much longer, to provide an income to the household,that comparisons to the average income may be somewhat distorted.There are also other things not counted, such as boarder's,guest accomodation and extended families. I had a couple of rental properties and at least 1 was occupied by an additional boarder.

However after saying all that,I sold my properties In western Sydney and now I find that those places have already dropped 10-12% over the last couple of years and look as though they still heading down.


So DOWN is the way property is going....Down,Down,Down