The high priced houses fall the most in actual fact so its NOT location location etc. In Perth Dalkeith and Claremont cant move houses in one street in Delkeith I have a friend there 5 houses on market, sold 3 no loan avail so dropped. On market 6 plus months. Too much borrowed money in my opinion. The rich 10% people have borrowed more than the whole of bottom 75% so much further to fall. Basically people DONT have the money. Dalkeith prices were $350 000 in 1990 so how can they be 3 million now! The houses are getting old upkeep etc and building costs in Perth horrific. Laboures get $30 per hour its got too expensive. Renovations with 1 room and bathroom plus adding a pool cost more than building a double storey in 2003! Postion is where the falls will be. The $400 000 houses wont fall much too expensive to rebuild. Flemster
