the median house price rose by 14000, page-36

I know a lot of people bought houses with just 10-20% equity

in financial terms the debt to equity for residential housing would be around 400%

eg assets $500,000
liabilities $400,000
equity $100,000

debt/equity = $400,000/100,000 = 400%

if houses prices were to come off 25% people will lose almost all the equity

60% of australians wealth is in housing

they estimate 300,000 to 400,000 people will lose jobs down the track

that means a lot of people who lose their jobs will become forced sellers and may be cleaned out completely.

Rudd did the right thing proping up the housing market, I reckon.