The problem is both sides argue a all or nothing. I wouldn't at all be surprised is some parts of Sydney dropped by 20% and some parts for Melbourne by 10, but not the whole market.
And that's why the bulls get defensive-for a bear to say he whole market is going to crash is just stupid, especially when you consider replacement value.
Whilst some are borrowing as much as they can at the moment many many more are taking the opportunity to pay off their debt at record levels. People are further ahead of their payments than even before!!
You make out the whole population is on 95% LVR...it's just not like that.
