Hi there Ikeeplosing,POINT 1. the Australian Dollar has...

Hi there Ikeeplosing,
POINT 1. the Australian Dollar has increased in value since many aquisitions..I think.
Therefore for the OS investor to sell now or in the future, they may in fact retain/gain value in their particular currency...

so I might disagree to your second point about values..??

"The assets may not be destroyed or faulty........but they are worth nowhere near what was paid for them and I doubt very much there is a sucker out there who will pay what OCV paid for many of the assets."

AU property values are yet to be tested really..
PLUS US drama queens make it look worse than I think it might end up being ..
They dont have a flow on effect because purchasers can walk away from their home loans with "no recourse" to other assets.
Why wouldnt you buy 10 houses if you had all the upside and no obligations on the downside ???maybe there are just LOTS of speculators losing and the US economy can recover.
IF someone used this valuable asset of homes left vacant for very obvious global needs and relieved pressure on something like world bank or debt this whole crash might be a way to find a new vehicle to accommodate world problems..

OHHH IKE relationships are everywhere. JH and CS are just a tiny glimpse of all the relationships in play, dont you think? Things get simplified to fit into the editors column.
How much we dont know could fill a library.imo.
Lets follow this thing with a positive frame of mind..
We are so lucky to be in Australia with the people we have.. the legal representation ..the govt agencies..
Other countries are trying to feed their population and cant spend time on this rap.