"is that our correction will be a slow melt with 15-20% off prices "
Hobo, this has also been my favoured scenario if we are talking about an index of cap cities, though i think some capitals could potentially be hit harder than others in that overall 15-20%. E.g. one would expect Melb prices could tumble more than 20%, whereas in Perth the mining capex might only see it fall 10%. Melb looks in oversupply already and anecdotally they are still building like crazy.
