The Disjunction Between the Value of Real Estate and Speculative Value

I think it's particularly strong in Australia. Why so? Well, I think it partly goes back to the point that I made about about immigrant aspirations - why do you come to Australia? My grandfather came to Australia in 1912. He never, he was 43 years old, he'd rented all his life and had no expectation while he lived in England of renting. That was probably what he thought he'd come here for. And I think a lot of people would still feel that way. What troubles me most about the current thing is not so much the desire to have a place of your own which you could control where you don't have to consult a landlord before you dial a picture on