Not sure what the point was on 60 minutes? It seemed to target those who have been over extended due to unethical lending practice but then suggested that this would bring down property prices and the market would experience a crash. I can't marry these two in any logical way. Seems that it is a clear case of sensationalism but no doubt some will fall for this. There is clearly no doubt that a percentage of homeowners will suffer ... interest rate increases being the main catalyst. From this will come those looking to profit and therein lies the start of the next upwards movement. The real problem remains ..housing affordability, be it ownership or rental at the lower socio economic levels. This remains an interesting challenge for the country. In the meantime the fact remains that the affluent remain so and will continue to fuel the property market regardless of interest rates or other factors ... those with a long term strategy will benefit. Oh yea those who forecast dramatic house price reductions...give me a break ... drop a list on this forum so we can all have a go at increasing our property portfolios.
