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I think it's irrational thinking too. Byron Bay, Margaret River, plus any number of other tiny idyllic coastal towns can have high property values. And there can be massive overpopulated hell holes overseas that you wouldn't want your dog to live in let alone pay much for property. See ya's.

Why is Perth a bubble but not say Melbourne then? I'd agree that Perth is a bubble if China implodes, but then the whole Australian economy would go down as well, just a few months later, as we would then be no different to Greece or Great Britain. We'd just be a nation of service workers and...