australia's very own subprime crisis looming, page-183

The big difference between Australia and the USA is when you default in the states you just drop the keys on the lenders desk and walk leaving them the property to dispose of for what they can get,if the sale doesnt cover the loan too bad.
In good old AUSSIE if the sale proceeds don't cover the loan the loan defaulter is legally up for the difference , so where in the USA its very tempting to walk in Aus this doesn't apply because you can be left paying off a debt for life with nothing to show for it.