your chart does not really address the 'what number of loans are...

your chart does not really address the 'what number of loans are within the last 5 years compared to total of all outstanding loans'; and the problem loans will really be only those taken in the last 24 months; so if we have 90% of loans are way above water - and only 10% under water... will that cause a crash

so, it would be great to see the number of loans and years; of course the majority of loans on the bank books in Australia are not in the last 5 years; but it would be very nice to see what percent they are

I can see the banks having a great way to make some money; the IO loans that reset (after the five years to regular 25 year loans), I bet you anything, the banks will come up with some 'plan' to keep them on the books with some slightly higher interest rate; and the home owner will not be able to say NO

re the 30% investor, that is why I looked at the price increases in the couple of years, prior to this current 12 months 6% slump; so if you are UP 25% and down 6%, you are not in a bad way at all; now if you borrowed 95% of value 12 months ago, then you have a problem; but I dont see a panic dump; but I really just do not know; I expected the panic about 3 or 4 months ago; but this gentle minus less than 1% every month seems quite passive and manageable

the canary may be the Aussie economy; it is roaring right now - so the people who need to hang on to their mortgages likely CAN; but a recession would create havoc; hence, any hint of recession and our 1.5% central bank rates will be down to 1% quick smart