Michael,
"but 20% seems possible"
Its is significant drop for a leveraged postion, investment property on a 5% deposit is a 20:1 leverage bet after all. A bubble once popped doesnot come back to its old glory in a hurry.
"the "govnut's" "bubble bag" still has plenty of ammo"
I agree,
govs will always try their best to push the can further down the road, but can they do it forever?
