Good thing that house prices are down 7.1 percent seasonally adjusted in Perth according to RP Data - the biggest fall in the country. They can pick up some cheaper housing, than 12 months ago.
http://www.smh.com.au/business/what-boom-defaults-rise-in-twospeed-economy-20110928-1kxeb.html 'The 6168 postcode taking in Rockingham, 30 kilometres south of Perth, has the highest delinquency rate in the country with 5.31 per cent of mortgages more than 30 days overdue - more than three times the national average of 1.67 per cent.'
Plenty more homes when the owners above default. It shouldn't really be a problem.
Going by the speed of the falls (Perth is leading the country), I suspect the article is just some positive spin to try to slow the plunge of prices there.
