Hey Landlubber......no need to apologise........debate is healthy. Admittedly when I read your post, I had that "oh ****" moment, and I agree with you. Where would we be without the resources boom and the rise in food prices.
I'll still stand by the rest of it though but will concede that our economy is in the right place at the right time so to speak.
Bill.L, back to something you said about property taxes. Does the US have stamp duty similar to our regime here. For a decent property in AUS, well Victoria your up for around $16K in stamps on a $350K value, however thats only a one off, you'd probably be up for around $2000 in rates as well.
I have friends in the US that pay around $10K per anum in property tax / school tax etc..etc..