the problem with the property bulls is they can only look in the rear view mirror to justify never ending property increases.
they cite previous sharemarket corrections over the last 30 years yet not for a moment do they ponder what if the collaspe of the greatest credit bubble in the history of the world might alter things, what if the debt people and governments are carrying might mean a change in direction from the previous 30 years
australias debt to income ratio is 165%, uk 155%, america 135%
are we headed towards 195%, 255% 340%?? thats the only way i see the pretend growth of the last 30 years continuing. if australia didn't have the commodities boom and credit bubble the past decade where would we be today? the answer is is where we're headed
