I don't know why you find it humorous. Maybe its because you don't understand. Why would you need to be bullet proof? I can tell you a lot of the people who had to sell at a lost wouldn't have found it a bit amusing.
Look at the WA market, some assets have fallen at least 25% and banks still loan to the buyers who came in to buy the assets that had fallen in value. You need is a reasonable deposit and an income history, not a bullet proof vest. Even amidst the worst of economic downturns a majority of the working population will still be employed. Look at every other market around the world that had crashed..banks still lend after a 30%+ fall don't they? If they didn't there'd be very little turnover of stock.
