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Comment Re:Chinese buying the property, selling all resour (Score 1) 115

Foreign investment is a factor, but nowhere near the biggest one is.

The shift from having pensions to superannuation, and the implementation of negative gearing are the biggest issues. Owning multiple homes has become the retirement plan of most of the population. Our politicians (including our prime minister) are some of the largest property investors in the country. We have a level of plutocracy on par with Columbia, and property developers are making a killing. Several IT people I know have already given up on buying a home.

Negative gearing is the really absurd bit though. Friend of mine had so many properties, and so much debt that the government was paying him a hardship allowance. He lives in a 3 story, 50sq mansion relatively close to the city. His top story "man cave" is bigger than most 3br apartments in the city.

Comment I purchased a house just before the 1991 recession (Score 5, Insightful) 115

It was our first house, and my partner was a lot more risk adverse than me. She insisted we be prepared for one of us being out of work and interest rates doubling. Both happened. I changed careers to IT and it took me nearly 2 years to get work, while interest rates went from 9% to 18% in a matter of months.

We managed to pay the mortgage and keep the house, but it was not a fun time.

Comment Re:Uh... (Score 2, Insightful) 242

"They've had over a year to tweak it for the PS3.

What did you expect?"

No matter what, the PS3 can't win. GoW (gen2 release) > Resistance (gen1 release), and all the 360 fanbois can it. PS3 Oblivion > 360 Oblivion, and the 360 Fanbois cry unfair because they've had 8 months extra to work on it. You guys continually adjust your argument to suit the facts.

Yes, Sony have been dicks in the way they've over-hyped the console. And yes, the PS3 is comparatively expensive (for a console). But as a blu-ray player, it's one of the best on the market (and the cheapest). As a game console, there is a LOT of time for developers to get to learn the machine. This "console" war won't be over for years.

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