excellent article : aussie subprime time bomb, page-9

steet talk,

I agree, that guy is in fantasy land.

at least when you are paying a mortgage the last thing the bank wants you to do, is to stop paying the loan; and for most 'reasonable' people the bank will assist any way it can.

when you rent you are at the mercy of many forces one of them being rent increases and the risk of losing your home through the bad financial management of others. This ultimately forces you back into a market where rents may be much higher or homes unattainable in your chosen area.
Very disruptive to a family.

these people had better be careful what they wish for..

in saying that a 20% softening would not hurt...