future of chinese buying, page-10

I agree with your sentiment Steve, just not the severity.

As I said, Australian property compared to the US and GB held its own through the GFC, our falls were nothing compared to abroad, same with our banks, all thanks to sensible and prudent regulation.

I am confident at current prices there will be a correction, if it was to go up another 10% this year then it will crash. A correction is an orderly contraction, but a crash will be a disaster across the economy and a self feeding implosion. I think people underestimate the RBA's intention to lift rates to prevent this occurring.

Its fair to say Australia could not have been much better prepared for a GFC, but another right now would cripple us for decades.