Had a rant on my blog about the housing obsession: http://nathan-lee.com/blog/2010/03/03/first-signs-of-a-sydney-property-bubble-bursting/ Anyhow, who here also thinks the hype related to house (mortgage) ownership has put Australia into a dodgy situation? * people jumping in at the lowest interest rate point and expecting it to stay that way * government furthering the problem by providing subsidies for first home owners * banks allowing people to borrow far more with far less up front than ever before * the media hyping house ownership (see my blog for one of the few bits of half arsed critical reporting) by sugar coating the situation In short: I reckon we're headed for a housing crash when interest rates get back to semi-normal rates and people start having houses repossessed. In between though there'll be lots of idiots voting solely along the lines of who will make (impossible to keep) promises about interest rates (at the expense of real issues like environment/trade/employment).:nopity: Add to that I reckon buying existing houses contributes near nothing to the economy: it's just straight into bank profits at the expense of having any disposable income. What do people think about the housing obsession?