Using the bull's 7% annual growth rate in 30 years the median Perth house price will reach $4m and be growing by a handy 280k per year. Why would anyone bother working with such returns?
We could all stop working and just spend the capital gains from our sky rocking house prices to support our lifestyles. We will become the worlds most prosperous country all with no employees.
Clearly over the long term houses will track wage growth otherwise buyers won't be able to afford to buy.
