The real life example of the 'mug' mentality is alive and well..
A 40yr old guy told me other day he had to move out as far as Pakenham(melb s/e 45k's) to buy his first home. Says the construction has just been completed and has made $65,000 on it already.
"Nup, house prices never go down" he says.
Maybe he's right. Maybe the bears are wrong and this is just a pause in a long sustaing bull run.
I didn't have the time or the patience to listen to how he come to the magic $65k figure. Maybe Ray White told him.
