I agree property prices are too high in Sydney ,will they crash, personally I don't think so but nothing is certain in life. A 50% drop would really put the cat among the pigeons ,the banks would be holding security that in many cases wouldn't cover their loans.
What then a run on banks ,credit unions and building societies so the government would have to intervene but many will lose their homes.
Anyone cashed up would stand to make money but it would take years to realise. People still have to live somewhere so landlords should get a return and survive provided they are not to highly geared.
There will be some incredible real estate bargains
