Dot.com euphoria is gripping investment housing on the...

Dot.com euphoria is gripping investment housing on the Australia's East Coast, be careful everyone ....

In London, UK, house prices up 25.5% this last year, just like 1989. Then 1990/91 crunch, down 15-20%, poor dead yuppies. Negative equity. Ditto here.

A relative lost $450K on two Sydney properties, when his wife chose this moment to sue for divorce, and force the sales through, crazy b.......

Wealthy immigration generally, or bolt/escape hole buying from stagnating Hong Kong, will probably absorb much of the excess production, .... given time, and yet more increases ....

Building to meet affluent foreign demand has been one of Sydney and Melbourne's most substantive industries for years, with so little natural population growth. ... However if the inflow of rich immigrants/ offshore investors , was ever restricted, rather than perpetually expanded, the housing industry might easily go belly up, and our urban economy with it, to fund drought relief , etc...

We are now permanently dependant on these immigrant cash flows.