The good old 'but look what happened in Japan' argument.
One little difference though which you forgot to mention, their banking system was hardly regulated, and hence found themselves in dire straits with MASSIVE amounts of bad debt.
The Australian banking system is highly regulated, and will not suffer the same crisis as Japan. Yeah some of the shonky lenders lend to people with bad credit ratings, but they make up a very small share of the market.
Forget what happened in Japan, that wont happen here unless of course regualtion ceased, in which case i would be the first to sell my properties.
If you dont like property, fair enough...its not for everyone.
Cdchi1
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