Costello knows what he is talking about.

Real estate prices have locked out a whole generation of Australians from the great Australian dream of home ownership. To make matter worse the high cost of housing has sent rental prices skyrocketing, even in the poorer suburbs and country towns; where nobody wants to live.

Luckily we have the greatest treasurer ever in parliament at the moment and, as usual he's not afraid to make radical decisions. Peter Costello is asking the state governments to look at locating land that could be opened up for development by private investors.

This is the best news in terms of real estate in ages. By putting more land up for development, and don't forget the superb First Home Buyers/Builders grants, land prices will plummet. The wife is seriously talking about selling our holiday home near Byron Bay before the crash so we can cash in on the new land deal. If prices drop low enough we should be able to get, at least four or five blocks of land with some judicious buying and selling.

Plus, we still haven't purchased a property for our youngest daughter so she's still entitled to the full $14, 000 grant.

Good news indeed.