Safe haven!? HA! its the biggest fools market there is. The amounts people are willing to pay for such ridiculous things baffles me. Why buy when you can rent cheaper than the opportunity cost of the money spent buying property. the costs involved in buying a house mean that you're first years rent is completely offset just with transaction costs involved in purchase and then you're if you're lucky you'll get a net 2% yield. If you dont take into account the last 3 boom years, property prices have risen 6% for the 50 years previous. All they are is a way to beat inflation. Who would invest in property at the moment when we are headed for the biggest crash ever I'm sorry to say.
