Chimbu Talks......
You are talking in absolutes.
In economics/finance there is no such thing.
Demand outstrips supply in accommodation in pockets all over Australia..that is why rents are high....in pockets
There has has been little increase in the housing supply particulalry in NSW for a number of years.
House prices are generally stagnant or in decline over most of the country.
There are however pockets of real estate that will alwys command prices above the norm/average
The bubble as you call it will burst if demand declines markedly and the provision of credit declines with it.
People still need somewhere to live....whether they rent or buy.
Most peoples wealth lies in their home.Their levels of consumption are tied to that presumption
Bone up on the multiplier effect and its relation to inventory levels.
Aviation in this country and around the world is about to get hammered as discretionary spending is curtailed