Here is another story of our close friends:husband and wife...

Here is another story of our close friends:
husband and wife builds a house and over capitalise during the good old days of the boom by getting all the top notch finishings cause they could afford it at the time as his business was doing realy well (was in a building trade) and the bank was paying for it so why not. Recently there has been a slump in building and he closed his business as was struglling to pay the mortgage. Tried to get a mining job with no luck. Now they have to sell their home.

The mining boom has a lot to answer for ie increased income resulted in people leveraging more from bank, miners have little accountability ie do you think FMG if they were in trouble would keep their staff on just cause they got mortgages, recent example of FMG debt ratio would show how greedy these companys get.

Another example is the public service jobs in Queensland that have been slashed.... oh but thats Queensland... yeah right. Time for a wake up call.