housing prices, page-12

cha said;

"interest rates at historic lows. full employment. labour in final term. only see upside for me."

Well something's not right cha. From today's West Australian newspaper;

"Signs of mortgage stress are emerging in WA with revelations the State has the highest rate of loan delinquincy in the country, with about 20 homes repossessed each week.

The latest statistics from ratings agency Fitch show nearly 2 WA homeowners in every 100 were more than than a month in arrears in the September quarter last year, compared with 1 in 100 nationally.

Separate statistics from the Supreme Court show nearly 3 homes are being reposseed in WA every day....."

WA may well be once again experiencing a mining boom and we may have historically low interest rates but if this is what's unfolding under these conditions it doesn't paint a pretty picture going forward IMO.

WC8