I gave you a TU, because it's a good post, but I am on the side of Sungar in this thread. Fundamentals are fundamentals, Australian RE has just had a 16 year run up which ended Dec 2010, the previous best run up was 1920-1929. Some people make the argument that "this time it's different" well it's not, there is a well publicized book titled: This Time It's Different - which debunks this myth.
