Its meant to read 2.4 million in assets amd 150k combined income. Tcisboss, sorry to confuse you. If income was 2.4 million and debt 1.65 , not exactly a problem. They would pay off debt inn18 months lol I can give plenty of these examples, all I am simplying trying to say there are many people in Australia who did ok with property jntiallu and they have loaded up and with that they have loaded up on debt. They are essentially similar to preretirees with 1 million in shares PRE GFC. 100 percent Exposed to an inflated asset class. Once the game or musical chairs stop a few people will be left standing without a seat .
Massey - my guesstimate is prices will retreat about 20-25 Percemt. However as I said previously I see it occuring over 5-7 years. Currently we have some supports that are likely to stop . Eg the allowance to borrow through super to buy property. This has been flagged for review in 2 years.
