[foobar33333]

The prices in Australia are based on forecasted demand. Since there is almost a 100% chance that the population of tomorrow will be greater than today, that means you can buy on higher prices than current demand. Unfortunately that means houses can be considered worth almost infinite dollars since the population will keep going up.

[axiosgunnar]

> Since there is almost a 100% chance that the population of tomorrow will be greater than today

This is of course already priced in today

[mmerlin]

Let's not forget the Liberal Party recently throwing out the fairly-newly-enacted loan suitability consumer protection laws, so that the mortgage brokers could reduce compliance and go back to the boomtime days of being the legal human shields (plausible deniability buffer) for the banks to allow larger and larger liar loans, which are 1 in 3 source... abc.net.au and anectodally, I subleased my office from a mortgage broker for years, saw how much they fiddled the figures for people to get MASSIVE loans they will never pay off.

I also recoded a lot of their compliance CRM for them when these now-discarded consumer protection laws first came into effect.. and was shaking my head in disgust at Frydenberg... no wonder Hayne would not shake that man's hand...

https://www.theguardian.com/global/video/2019/feb/01/awkward...