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Well as I said it's all prefaced on people doing their numbers or, in financial theory, that there's minimal information assymetry. So what happened to the Camberwell place? The person couldn't buy it and it was put back onto the market? Anyway, obviously he's a borrower. Aren't you...

Style's one thing. If you're not living there it doesn't matter. It's an investment so only the numbers matter. You have to do your own numbers to see if it works. You could be wrong but at least you made a calculated investment. If buying a rock yields good returns and generates positive...

The key in this sort of market is to find gems, not get carried away by emotional bidding etc. While I don't see downside risk at this stage, if downside does materialise (since the economy is still very cloudy ahead), it's the people who get sucked into the sort of auctions you talk about that...