I see all the idiots who bought spruiked house and land packages in dumps like Caboolture and Moranbah etc etc are now being burned by interest only loans going into p&i at the same time as they cannot be rented and have sustained massive capital losses.
Units will be next.
Quality assets will also be under attack as confidence seeps away and people try and rush to sell out.
It's going to get worse. Much much worse.
Be warned. And be prepared.
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