pennyO,those earning under 22k are not true mortgage...

pennyO,

those earning under 22k are not true mortgage holders/investors and are most likely pensioners or homeowners.

dogma79

if debt takes a minimum 5 years to pay off by say 5-10% off the priciple then property will begin re-setting hard like an avalanche if we drop to property values say of early 2007. we could end up at 2005 prices at $330K for the average aus home within the next 6-12 months

all you need is the sharmarket to remain below 5000 or even stay depressed at a bottom say 4300-4500 by the years end for that to happen. real money will deflate quickly then add some -tve sentiment it wont take much longer for it to fall over.

I smell some panic in the property bulls. Even the RBA is preventing a foreseeable crash by panickly reversing thier monetay policy in recent weeks. Absolute tools. first the allow a debt boom then they want to kill it instantly with the help of the US of course now they are trying to prevent it from happening. denial is written on the wall!! desperate times. I know im 12% desperate myself in shares and 88% cash.

I just need to be able to trust the bank i am stashed in to stay safe. then i might underwrite or buy a cheaper mortgage in say the next 2 years.