"Not much to really say about the article Damien - it is just more media sensationalism. Just look at the numbers 11000 foreclosures over 5 years = 2200 per year. Which really is a pretty small percentage of mortgages that would be in Victoria".
Nice reassuring interpretation.
Well, the problem is not the trickle of reposessions of the past but the torrent of reposessions in the future.
If the banks are so trigger happy to foreclose in the good times, then even blind Freddie could tell you what will happen in the next couple of years.
foreclosure fenzy in victoria , page-37
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