where do u live lord? perth?? come to sydney where you see what will happen to perth in the near future.
A 5 bedroom house sold for $800,000 in suprise suprise...2001 & resold $620,000 in Jan08 as current owners couldn't afford the rate increases.
Hmmmm let me see a $180k loss + interest + bank charges, etc..pretty simple maths to me.
its happening everywhere.
