the average american spends 3 years wages on the average house. their price falls were not that great in the main areas
in australi we also used to spend 3 years wages on a house back in 2000, now the average australian spends 7+ years wages on a house.
the bigger the boom the more room for a fall, so which can fall more the US or the AU ?
it sounds like you think that we wont be effected by the global crysis, or we have and its now over? this is not the case there is a lot more to come and its the next stuff that will effect Australia.
because of how our economy/industry fits in the rest of the world we are more buffered from it and the delay of it hitting us is longer than for everyone else.
