rba's emergency meeting, page-27

what happened to property during 30-35 and 73-75? you keep cheery picking moments in history to justify another boom. throw out those useless history notes, we're in unchartered waters now.

as for the average bloke giving up a government guarnatee on cash and going out and buying the most overpriced ip's in the world while he's worried about his own job security during the recession/depression.... I DONT THINK SO. are the banks even going to lend without some serious equity or solid cash deposit? I DONT THINK SO. bank lending will continue to tighten. people also need to stop banking on cheap fixed loans, americans practically have a 0 fed funds yet mortgages are still 6.4%

people will be unloading ip's in record numbers because they fixed rates last year and this year and are faced with painful exit fee's to break the loan. prices falling, low rental yields and paying a high interest rate wouldn't be to fun, infact i think people would be waking up with cold sweats in the night.

people ditching ip's because they were so geared that price drops wipe out the tiny bit of equity they have and they owe more than the loan.

and more people selling up because they only bought for capital gains (which are gone for a very long time). you can bet there is tens of thousands of people in that boat