mrlunoon, I agree with certain of your sentiments however I (for the sake of my marriage ) would not sell my home to rent. I do believe the property decline will be slow and the banks are so exposed to the housing market they cannot allow negativism enter the debate. I am in Brisbane and in the inner city New Farm we yesterday looked at a unit that represented a fibro boarding house "retro" they say priced at $425000 , the owner is very hopeful I'd say. The real estate agents keep talking it up here, auction clearance are at 32% they say, that is incuding the dubious "passed in" or vendor bids. Stephen Keen will eventually be proved right and those monkeys at Macquarie Bank will see their bonuses disappear.
