gold, page-49072

So when you buy it, you’re speculating that someone will buy it from you for a higher price in the future. This is different from a house, say, which you could rent out, or a company, which produces goods and services—and therefore revenue and (hopefully) profits.

So you are saying that people haven't been buying houses in the expectation of making meaty capital gains? lol. The guy who wrote the article is a certified goof, because he thinks that because you could rent out a house you should mindlessly pay any old price. Everyone else is doing it too, using the rationale 'I could rent out this house'. Someone tries to outbid you....go higher!! Any price is ok!! The most important thing is to get the house, no matter the cost, because you could 'rent it out'. This is the kind of lunacy that has led Australia into its current mire, facing dark recession clouds with a housing market already on the slide.