UT, that is a classical case of the massive distortion between what one reads, and how one interprets same
the poster misses completely, the wise words of warning that have been provided by the PI's here over the years
that for house prices to drop a massive amount, other factors are required, one, namely job losses on a larger scale there are other added implications that are well known to the ordinary people.....or maybe not
after some of the silly things posted here...
the reporting season is well under way...company after company are reporting huge losses....so expect more job losses, they rarely announce both on the same day
Fairfax has posted in excess of 2.7 billion in losses (that is probably more likely millions rather than billions, but typical of the error reporting we see in the age on a regular basis) http://www.theage.com.au/business/earnings-season/fairfax-posts-27b-loss-on-writedowns-20120823-24nl6.html
