Hi Menta....stay tuned...its unwinding & gaining momentum
as I'v said before though - should we be carefull of what we wish for..... god knows I wanna see sme egg on both RE industry & Mortgage-finance charlotans... and.... its a monty for Aus Re values to come back to the long term ratio's/Pe & wages...etc that we all know about, however, if its too steep, the carnage will be severe...
if it resembles the Irish pop outcome @, say, 50% reduced, in terms of time & strength of price reduction -(Ireland on valium as they say)... its still going to be gory but softer for many of those new decade entrants to Re (post Yr 2000 buyers) i m o
econmists, ahh, a special breed thats for sure... bring on Steve Keen... & Leith for that matter, give them all saint hood's for being bold enough to dare report it as it is...
