way oversold, page-160

At last.. some real Logic and honesty from a real Holder .

"The housing boom is Mainly in Melbourne and Sydney and you would expect the biggest falls in prices would occur in those 2 cities but in other capital cities and in the country the price rises have been much less and will not fall as far when prices fall.
( if they fall .. they may just flatten out.)

History shows us that people will hang on to their houses and sell other asset's to keep their houses only a major spike in unemployment rate coupled with a rise in interest rates would push up defaults and bank prices down to that level."

unemployment is Low and hovering around 6% .. and % Rates may FALL under 2% in 2016.
so there is no pressure currently on Home borrowers...to default or Sell their homes.