I suspect house prices will collapse within months in OZ.
Credit has become very difficult to obtain,'lo-doc' and 'liar loans' are history,banks require significant deposits, real proof of earnings and realistic valuations.
Supply is flooding the market everywhere.
Wizard,Rams Aussie & co are all struggling to survive this tough new environment.
Where I live on the Sunshine Coast,the amount of houses for sale has trebled in the past 8 weeks.
People paid ridiculous prices during the boom and I suspect many are trapped underwater and desperate to sell.
