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Thanks Peter, I did actually acknowledge that there may have been talk of a 'bubble' back then when I stated: But the point I was really trying to make was, that there was growth occurring in those years (33% etc - which is much more than now, at 10-20%) and quite plainly there was no bubble...

I'm sorry but I just don't 'get' all this nonsense talk about bubbles. There is no bubble IMO - just normal cyclical RE growth. For example, let's just pick an ordinary garden variety suburb in Sydney's West like, I dunno, Merrylands, and look at its CG over the last 15 years: 1996-97 2.0%...

I agree Witzl. Check out some of the Opens this Saturday - it will make not a scrap of difference IMO. I think it will take 1.5% more IRs to have any appreciable effect and they are not likely to do that until business gets (much) better.

Are well - you are in good company - 50% of economists polled before today thought the same. :p (OK I'll stop that now)

Are well - you are in good company - 50% of economists polled before today thought the same. :p