spp = price destruction!!, page-29

I want them really cheap especially since they have to get cheaper to reduce the level of debt.

We have several factors going against retail lending, rising unemployment, debt to income levels still high, falling exports.

There is a pretty good argument for another big hit on the US economy through Alt A and continued falling US house prices, the Commercial RE sector virtually resets over the next 2 years, that will bring on further disasters.

The are still plenty of icebergs ahead when we clear them we can look back and tell who was wrong and right I just think things will be cheaper further down the track

Then you run scenarios, what if the DJIA fell 50% from here?

Maybe Aussie RE has some get out of jail card I dont know about, if it has well and good, but by any reasonable model of affordability I can find we are the worst in the world.

I believe unemployment will unlcock asset price falls through forced liquidation of assets......and that our RE price levels will be fragile to this

this will bring down anz , if you look at it balance sheets it relies on growth, when growth falls and delinquency rises profit falls quickly

but I wish investors the best of luck, and yes I am happy to be wrong