mortgage stress how sad , page-20

There is next to nothing the government can do to prop up the property market now.

For starters, the government has created a massive deficit that will take many years to pay off. Our household debt is the worst in the western world by a mile. It's RED all over. The housing market and the bubble is just too big for the government or the banks to rescue when it bursts. It's incredible the government decided to inflate the housing bubble that was precisely the root cause of the GFC.

Secondly, the supply of FHBs have been exhausted. Any FHB who bought has already bought to beat the expiration of the grant. Any potential FHBs (porportionally there aren't that many) who cleverly stayed put to wait on the sideline is doing just that...for the price crash to happen and reap a bounty.

As the news get worse, the investors (smart ones have already jumped ship) will lock in their gain (or cut their losses) causing the mother of all stampedes.