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This statement sums up EXACTLY what is going on at the moment. Pure rampant SPECULATION. No one knows how it will end. The market may double again in the next 12-24 months, but believe me it will end and when it does, Australia will be facing a massive economic disaster, similar to Ireland, US...

The current Melbourne real estate market has gone crazy. The frenzied buying and ridiculously high prices we are seeing are no longer based on fundamentals and are the result of an importation of a speculative credit fuelled bubble in real estate from Mainland China. The 50-60% price rises we...