I love it ! Has anyone ever seen the amusing scene of small children playing a game of music chairs where some still run around merrily in circles when the music had already stopped. There is plenty of that right here.
Anyone who understands the mechanics of a housing crash would appreciate that it only take a small percentage of participants to get intto trouble for the avalanche to develop and gather critical mass.
The rest realizing property is no longer a money making scheme in the property bear cycle would exit.
The RE lobby spruiking rubbish (together with the banks) know the time has come and has turned the propaganda into overdrive.
Their hope is to prevent a price drop in a DISORDERLY fashion. I am afraid it won't work. Just as one couldn't have saved the Titantic with upbeat rhetoric.
They remind me of the Iraqi propaganda minster (AKA comical Ali) who appreared on the news promising to crush the American (in the background were approaching convoy of Abrams tanks)
