Actually we do have actions in Perth but they are the exception rather than the norm.
John it's a bit more than luck that I was able to ride out the 17% interest rates, having at least one property has always been a priority.
The greater majority of property owners have a fairly good chunk of equity and would ride out any big jump in interest rates.
Current low interest rates would have people taking advantage of it and paying off principle, typically when interest rates drop most people continue paying the same repayments and hence more principle.
"I mentioned before the only way that there would be a big drop in property prices is if we had a mass exedous of population."
That come back to simple supply and demand, regardless of interest rates or unemployment levels the demand for housing only changes if population changes. I can't see population reductions in Australia
