acorn, the same lending was occuring here as it was in the US, its been exposed already the only difference is that the australian banks got a warning ( the US bubble popping) to attempt to stop it happening here, they got given a headstart. Youth unemployment in australia is high, i don't have the exact figures but i know its high, ive attempted to employ yough australians and they simply don't want to work. I was getting 1 response per 40-50 responses, roughly.
its just too early to tell atm which way things are going, were are getting mixed messages, a couple of months of upwards property prices followed by a couple of months of downward prices. One thing i know is the the media is generally pro property. When property prices increase they say property prices are "surging", when they go down they are said to be "slightly down"
