"Did you fundamentally examine the laws with regard to mortgage debt? USA walk-away from the house and you owe nothing, if the bank sells the house and cannot retrieve the debt owed - stiff cheddar, Australia walk away and the bank will sell but you will still owe them the shortfall."
I believe our legislation is the same as in the UK and other countries that have taken hits, so I'm not sure this is entirely relevant.
"Can I choose not to house my family?" Let's not forget these same rules applied in US, UK and Japan. But the key is how many people do you know that own more than one property - there are tonnes of small investors with multiple properties.. I'd be interested to a graph of this over the last decade.
"If those individuals are reticent to share, and if they do share, it is temporary." I'm sharing now, never thought I would again - and it's only as temporary as the current inflated rental market (until wages catch up).
"If the number of individuals is increasing in our cities" Perhaps I should invest in agriculture, surely the supply vs demand means.. or not.
"Your iron ore arguement fails in that housing is a necessicty, not a luxury." The average 2.6 people per household is not a necessity, it is historically low and has room to move higher.
"I dont think we will see the falls experienced overseas, but rather a somewhat stable with some negativeity until people get some certainity." I think this is a likely outcome, while such an outcome will still cost holders, it's much better than a slump
