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Good point, I'll shut up now... But, on the point of demand elasticity and basic versus esteem goods, here's an article which pretty much explains the impact in today's environment: http://www.news.com.au/dailytelegraph/story/0,22049,24781903-5013110,00.html Basically, the southwest has...

Hi DadOfSam, Yep, and that was the exact point I was making in my original post in this thread. i.e. A drop in rents at the top end in no way changes the number of tennant families in the market and in no way changes the number of properties for rent. All it does is move the price point at...

I'm going to run with the Whatever defence... Sounds like we're both vehemently espoucing the same argument and both figuring we're pretty unambiguous. I'll just leave it at consent and move on... Cheers, Michael

I did mate, that's why I said this: I was just pointing out why your caveat around increased demand at the lower price point has to apply. i.e. Why would a drop in rents at the top end result in a net reduction in would be tennants? There is nothing to support a caveat around a net...

DadOfSam, Close, but not quite... There is actually no net change in the number of people renting versus the number of properties for rent. All that has changed is that a portion of the people renting the top end stuff now don't want to pay that much and this causes the top end rents to...