aussie house price crash: 50% overvalued, page-6

"The problem in Australia is infintely worse than the US experience in that our recourse loans allow the banks and lenders to take away everything (including any other assets you have) to get their money back.

The negative impact to the economy is much worse when our bubble burst because many will lose the lot.

Emotional attachment is besides the point. When one can no longer service a mortgage, you lose it no matter how hard to try to hold on. This has a cascading domino effect."

It is exactly because of this that the majority of mortgage holders will do absolutely anything to hold on, and while it will be very hard for many they will survive.

"Fujitsu should focus on their core business (that is selling air conditioners). They need to go back to reassess the level of mortgage stress and not underestimate the problem."

Everyone is financially stressed as some point in their life - but just because a couple of survey questions indicate stress it does not mean that they will lose the lot.