The head story is sobering as it looks at our RE and currency market cold bloodily.
The time frame is important and scary. For the longer this price bubble continues the greater the affect on our economy and it's citizens.
Imagine our government forced into attempting a "bank too big to fail" rescue/s. Our banking systems exposure to RE mortgage is near 70% !!
This market hinges widely on positive sentiment eg. our prosperity can go for another 20 years and that our unemployment, mining industry and dollar are bullet proof.
Well they're not. One good shake and the cracks appear. The world economy is still fragile and still anything can happen. If something did occur which caused a RE market "correction" the average RE punter may be in for one hell of a shock.
Also the cracks need not necessarily come from off shore.
There's a big crack developing in Queensland right now.
