Scotty,House prices here didnt hold their own, they fell at the...

Scotty,

House prices here didnt hold their own, they fell at the same rate as around the world, 15% over the first 9 months.

Property then jumping 50% quickly was the result of pumping too much cheap money into the system by the RBA and Kevin Rudd. If your falling without stimulus then your not holding your own!

RBA only sets the cash rate of the currency, it doesn't control lending costs. Don't underestimate how much interest rates will rise as a direct result of the US printing a Trillion dollars every year for QE, or the money that is being lost now in china, and through Europe.

You know Bank West was in default through the GFC? The only reason it didn't go under was because the RBA floated it for a couple weeks to give CBA time to buy it? That's why the CBA was able to buy it so cheap.

credit is going to get quite expensive soon, what were home loans at in the 1980s? 17.5% ? and the financial problems back then were not as big as they are now.