24% annualised loss. on 600k is 144 grand plus all the interest that i would have to pay on that.
All up about a 170k loss for the year. Take a new investor a decade to cover from that.
Worst thing is as Matt points out the falls are likely to be in the order of 50% putting us back in line with 3.5x income. Remember the economist magazine? They have Australia 61.3% over valued atm!
