I believe it.The problem is we have had an overinflated housing...

I believe it.
The problem is we have had an overinflated housing market for too many years and now it is coming back to reality ppl are realising they paid too much in the first place.

I have see one area in Queensland where 3 years ago houses sold for 150 went to 450 and now they cant get 280 but ppl paid 450 only 2 years ago.

It was bound to happen