"slappi, why do you assume that 100% of owners are over extended."
I do not assume that 100% of owners are over extended, I know that mortgage stress is a reality and is biting hard thanks to 100% loans with over inflated prices. Next year we will see unemployment rise and housing drop like a lead balloon.
"I am now interested, like many other so called property perma bulls which city and suburbs have dropped already so we can get in."
Well you could buy in Balmain which has seen drops of 10% in the past 6 months. Perhaps you could buy CaboSanLucas' which has been "valued" at $410,000 LOL
