a friend of mine has been following one particular house in melbourne's airport west suburb (?) ... (im not from melbourne)...
it started at $ 680 several months ago (maybe a year) and now its at $ 550 and STILL not selling !
even if it was grossly overpriced at the begining you have to admit that it has fallen a fair bit !
15-20% easy...(still not sold)
denial phase will start when banks start 'nudging' them into sales...
