we seem to be ready for a crash , page-2

yep 1970 on saw an incredible growth in wages from 1974 to 1977 i had a 1000% wage increase, in 1978 i bought my first property a unit on an income multiple of 1.8,in 18months it rose in value by 50%,allowing my wife and i to buy a home on a combined income multiple of 1.7,it was an excellent block with an average brick veneer house in a good suburb,which today would have a reasonable market value of 440-480.(combined income multiple of 3.8--4.15,or single multiple double that)

in 1979 my brother bought an inner city terrace for 54k sold in 89 (i think) for 300k and just prior bought a free standing 30s fed home for 300k,the frestanding sydneyt suburban home doubled in value within 18months.

this was a period that saw people owning homes outright within 3-5years,homes their parents would have worked 20years to pay for.

its unlikely we will ever see that type of opportunity any time soon---however while ever there is demand and rising costs it will still go up in dollar value,just harder to find massive relative value gains