the screams you hear, page-2

Kingy, lame post. Very very baseless and detrimental to the clutching on a straw pysche of the bulls.

The Aussie house price crash deleveraging story has very little to do with the US umemployment situation (which is still at 8.3%). Just as the European soverign debt timebomb has nothing really to do with subprime and Lehman Borthers. If the payroll in the US is any guide we woldn't have had a spurt (pulling the levers on the bubble machine) in house prices in late 2009 to early mid 2010 while the US umemplyoyment rate went from 4.6% to 10%.

Not wanting to be a party booper, China can double their iron ore and coal imports from Australia and that (despite the silly spruikes say) won't help with umemployment here. Retail, banking, RE, manufacturing, tourism hospitality, transportation...you name is is still going down to chinatown. In fact commodity export from Australia in the last 2 years (since house prices started to weaken) has been the highest ever. That hasn't stopped those properties I an eyeing falling 30% ALREADY !

Like Greece, Ireland and Portugal and (others) where those coutries have to be bailed out as they were about to default. Our national household debt (think all types of mortgages such as Westpac 42% of high risk fipper loans) is so frightening execessive and living beyond one's means for many years, there is only one outcome.

When HK property prices fell 65% in the Asian financial crisis, the US economy was going gangbusters.

Many parts of the US house prices are still falling after hitting a 50% fall even though GDP has been growing for about 12 months.

Kingy, consider selling up and investing it on good coal stocks. When the coalition (not if), they will repeal the carbon tax and the NSW/QLD coalers will be on a roll. Did you read Glencore / Xstrata merger ?? I reckon the developers and explorer are prime T.O targets in the next 12 to 36 months with huge upside escpecially if the US econony continue to grow (even mildly) and China has a soft landing (which I think is the case), otherwise Centerlink is in trouble.