aust ecomomy in freefall, page-37

i live in Tassie on the coast near Hobart. I know 3 young couples who married 3 years ago.. all of them are now in big financial trouble. Not because of "high" interests rates, but because when they got married they bought a brand new home..(3 bed) 2bath etc... borrowed the max.. went on a big honeymoon. etc.. A year later 2 of the girls got pregnant..and you can guess the rest.. Now the real estate market here is DEAD.. so they can't sell at the price they want... and struggle every month to repay loan... . And i'm sure there must be a lot of other people in that situation. Cheers. Jean