Most people are just hanging on with the cost of everything too high for wages let alone being able to save to buy a property.. If house prices were rising they might do anything they could to jump on but that ship has sailed. Developers and builders arent supplying because they cant make money so why risk to make nothing.The cycle has broken down. Even rents are near their limits eg $500 pw for average houses in western sydney. Something has to give and it is...people cant afford to spend so businesses are closing up or just hanging on until they do. Some areas are starting to look like ghettos..eg Minto and Blacktown only businesses surviving are pawn, porn and medical bulk billed and maybe the odd takeaway and not to forget the payday loans places
