future of chinese buying, page-14

Even if Australians cant walk away from their houses like American can, if they go broke and default and the bank sells the house at a loss. The bank still in the same position as the Australian is bankrupt.

So really no different.

But yes i know a guy in America, his house fell 50% from when he bought it with a 100% loan. So he just bought another house in a better suburb then walked away from his first house.. obviously they need to buy the 2nd house first because the banks wont lend to them after they have defaulted on the first house. But they may have changed that rule now or are about to.