proof of the house price bubble, page-28

If the economy is relying on housing to sustain it, which relies on increasing personal debt, it will inevitably collapse. If we didn't have the bubble in the first place we would not be sitting here worrying about what may happen if it bursts! Nothing will stop the economy eventually failing, but delaying the collapse will just make it worse in the long run.

However, after seeing an auction today, and noticing the lemmings jumping back in with gusto over the last few months,it seems like the delay is the preferred scenario for Australians!