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Looks like it Bill. Housing loan repayments as percentage income. Wished someone had of rung the bell to let us all know that 96 was it. See ya's.

Property was cheap by 1997, there's no doubt about that. Everyone had done it tough in the 70's and 80's with high interest rates and high inflation. My family owed half a million at one point when interest rates were 22% for farmers. We nearly went under and it was just luck that saved...

I'd reckon Elfie means they haven't busted. Property growth has slowed down in my area. It's done pretty well in 7 years or so and I think the smart money is going back to Melbourne and Sydney for the next cycle. Prices definately haven't dropped and economically things are great. Just...