Did those calling the imminent collapse of property also call the looming collapse of the Dow and Daq just as loudly in '99? If not, why not?
Real estate is as good an investment as any. Syd and Mel have potential for a drop, but elsewhere it is still a pretty safe haven BUT there is real risk in all investments (compounded by leverage) now and for a few years yet. For what it's worth our next int rate move will be down and it will stay down for some time, and the FHOG was a core promise to offset the effects of the GST on new homes. Last I looked we still had the GST so the grant can't be removed either.
