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Agreed. In ten or twenty years time we'll just walk though the checkout at Coles and our phones will be scanned and some digits will move around. Cash will be gone.

Stapledon's data goes back to the 1800s, and some of it has been charted here...http://www.stubbornmule.net/2009/06/property-prices/ There's also some data here going back to 1960... http://www.retireonproperty.com/propertyinvesting/research/australian-property-prices-since-1960/ Not a...

Property prices have doubled (on average) every ten years for the past seven decades. Whether or not that keeps happening in the future is unknown, but it's not impossible. We're just taking nominal figures here. A $512m median might sound crazy, but it's no more crazy than a $1m median would...