Cuppa, were you talking about those in the West who were urged to "get into the market now or you'll be priced out forever!!!!" Looks like they aren't doing so well. http://au.news.yahoo.com/thewest/business/a/-/wa/9252224/owners-feel-the-pinch-as-prices-stall/
However, you also say "So if the value of the properties drop and you sell at a loss,you'll get left with no house,and a debt(as most had no deposit)." Now, investors I understand selling out but your sentence context was FHB. What will make them sell out? When they took out the loan and bought the house, they were earning the wage to pay the mortgage. Costs are currently rising, but the interest rates in 2007-2008 (the top of the market and the time with the weakest lending practice) were much higher then than they are now. There is much research that shows Australians in particular cut back on their discretionary spending and take extraordinary steps to keep their house if at all possible. IF prices substantially fall, it won't be the FHB leading the way out of the market.
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