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True. I'm not saying prices can't get below replacement costs. In rural areas in 2003 houses were way below replacement costs. Then we had our boom and bought prices up to about replacement costs. Have a look at this to see how far below replacement costs things can get if things go how it...

I dunno. Houses in 1880? The average house would have been a slab hut. With an outdoor dunny over a hole. Probably on half an acre with a vege patch, but it would be hard to believe that much land in 1880 would have much land content value as there'd have been land everywhere back then and...