melbourne auction market in limbo, page-9

This is precisely why many (not all) Australians will wake up one day staring into the burning price crash rubble in astonishment as they foolishly realize that the collapse has been happening around them all that time when eveyone from the RBA, the banks, other lenders, agents, RE & house price spruikes, developers, builders and the property tabloids like domain have been covering things up.

These silly buggers will then question themselves why they didn't trust their intuition when house prices in places they know falls by double digits yet they sought reassurance and comfort in the dodgy house price data showing negligible falls and as even rises (LOL !)

They have only themselves to blame.