housing to devalue 40 to 60 percent, page-26

Sydney's leafy suburbs are not above it all. I reckon all Syd will be hit hard. It rose strongly in the banking/finance glory days and will fall now that sector is collapsing.

In Townsville a TA (trades arse) can get over $30/hr in the hand. A small businessman I spoke to last week is flat out and could use an extra 20 guys. There must be hundreds of tows/cities like this around the country which will manage much better than Sydney.