As someone who professes to know about property, you should know that it takes only a small % of participants to cause a spike in price and likewise similar % of people getting into trouble to bring the house down.
At any point in time only a minute fraction of Australia's real estate assets are transacted.
The problem as we now see is that a disordely exodus of owners are bolting for the exit.
Simple - value can quickly evaporate but debt value remains the same.
Question of life and death really.
I can afford to take a punt...trust me.
BTW, it was a penny dreadful called SPH that netted me more than what an average Australian can save in a lifetime.
