australia's very own subprime crisis looming, page-197

"And Justis : "Ask your self and others, would you sell your home if the value dropped" um you are assuming you would have a choice. And "you still need some where to live and your mortgage payments are about the same as rent or less." .. oh really you think?"

Perth FX, even those that have brought property say in Perth in the last 18 months have seen their property values rise and with the drop in interest rates in that time their repayments are less or they are paying more off the principle.

So lets say property prices drop 10% over the next year, no big deal as you don't realise a loss unless you sell. Also, if property prices fell that would put pressure on the RBA to keep rates down.

Any down turn is usually short lived, if you become unemployed you go looking for another job.

You would be pretty pessimistic to sell your PPOR in such circumstances and as we see here, property owners seem to be an optimistic bunch unlike those who don't own property.

If and when the doom and gloom prediction on property are actually realised, by all means come back here and say I told you so.

But for now I will enjoy owning a property that I paid $40k for and is now worth close to $600k.