rba warns fhb's this is not time to buy, page-84

"but its now at a critical point where the returns are ordinary despite having everything, including emergency rates, thrown at it to keep it breathing."

So Sydney moving 17% in the last year is ordinary, even with your "bearish" view for 6 months the "average" punter made a gross ROE of 40%/ 80% annualised with 20% down.

Do you have margin loans on your stock Scotty because if you don't, your returns have been far smaller, and worse including your favourite falling knife trades.

Now the typical property bear but "expert" stock picker is someone like MF. Did you review his 3 1/2 month performance? That's more like the reality when its really tracked on paper - down 60%.