I know you guys don't want to hear it, but I will again, suggest there is a possibility that if housing prices go too high, they can also over-correct and go too low.
The chart above I like because it shows you even if your country is growing at 10-12% RGDP per year, housing prices can still go down relative to incomes. And not only that, could you imagine if housing went from where it is today (indexed at 105) to where China and Japan are (indexed at 65). A near 40% drop FROM TODAY'S PRICES.
Again, if you want your assets to have value, heck if you want the country to have value, you have to (I'm sorry) PRODUCE SOMETHING OF VALUE!
Never mind, nobody listens to me. Heck, how about instead of being a cold-hearted, reality spewing economist, I capitulate, become a politician, and tell people what they want to hear?
I promise warm fuzzies for everyone as we major in peace studies and vote for hope and change! If we care, social security will solve itself! Yea for us! We exist! YEA!!!!!!