michael---i have read your post and i fully understand it--my belief is and the rba suggests as well that lending standards have not been lax----now let me ask from your last post
they are still lax in my opinion as I think as little as a few % points drop in employment would see the RBA have to drop rates again significantly to save the market once again.
i dont understand your problem with that scenario---unemployment rises ,the rba eases interest rates, that has nothing to do with lax lending rates.
