Canada and Australia are among the short list of countries where housing is lease affordable. 

I live in Melbourne Australia and our current SFH that we rent is worth $1.2M but we pay $3100/mth for this property.  

Being born and raised in Sydney Australia I have seen real estate rise, rise and rise some more.

There are so many facets to investing I would say it's near impossible to nail down one thing for everyone as a reason to buy or not to buy in a city.I have been fortunate to speak to many investors in other states and recently was a keynote speaker in Brisbane Australia on those subject..

My family consisting of myself, my wife and 2 ankle biters live in the northern suburbs of Adelaide, South Australia.

we all agree that market is high so we need to be more careful in analyzing deal ... but no one knows about market correction time frame... you can study Canada, Australia market... they are keep going up since last 15 years... that can happen to US..?

My work history isn't the best because I went to Uni in England and then moved to Australia for a year.

It's pretty common and between people who are supposedly smarter than us, like in the world of private equity and venture capital :P Lots of peeps with MBAs snapping up companies, inflating their value and hoping to hoodwink the next investment group, maybe not stupid and simply duplicitous, but it happens a lot and I guess it's the same principle.I guess it's incredibly common in Australia.

Thats not enough seasoning time You could pull equity from Australia and use it to buy here I've done that two times using family members line of credit back in Aus

I'll take your comment as someone who is completely unaware of the ethics that the majority of brokers/agents exhibit.