"with all due respect, what industry are you expecting to collapse in AUS to cause the same problem(s)?"
fair question..
Rising interest rates as off shore borrowing is about to become more expensive.
Decreasing equity which we are seeing in its early stages now. The flow on effect will be quite dramatic.
A slowing of China which has started.
The US deteriorating beyond repair and the contagion effect through world markets which will see commodities crumble as we saw in 2008.
Talk to any mortgage broker and ask how difficult it is to get a loan application over the line compared to 3 years ago...
I could probably think of a few more if I thought hard about it.
I own property but you have to be a realist...
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