What next...? A socio-economical comment

Unbelievable! I just found out yesterday people can now pay rent using credit cards! AND there is a rewards program! This suprise's me immensely. Our current state of the economy - the consumer debit of the good ol'd counrty I call home. Australia has by far the most overvalued houses in the Western world, with prices 52% higher than justified by rental values. What does this have in stall for us? The price of housing relative to incomes is 50 per cent higher in Australia than in other countries as mentioned in a recent article. I foresee so many problems with consumers living beyond their means "the average household debt had skyrocketed as a proportion of household disposable income from 49% of income in 1990-91, the debt ratio trebled to 143% in 2004" *SMH article. The major component of this rise in household debt has been the even greater increase in borrowing for housing the new phenomenon of credit card reward points and frequent flyer points. In terms of practicality with my chosen career I don't even want to think about the predominance of professional tenants that will be on the rise. No wonder why I don't care to go back to residential property management!