australia's very own subprime crisis looming, page-187

Don't know why I bother posting here

Seriously, few people are mortgaged up to the eye balls. Most people have a fair amount of equity in their property and even if property values dropped 10% which IMO would be a worst case scenario would not be a trigger for mass forced sales.

Ask your self and others, would you sell your home if the value dropped? Maybe to buy another but otherwise you still need some where to live and your mortgage payments are about the same as rent or less.