How safe are the banks going to be when this goes down?
because if people have loans for more than what their house is worth, then the loans become risky, and people wont want to lend to our banks.. banks will have trouble getting funding for their loans which will push interest rates up higher making it worse dropping prices more..
Australian housing as always cost on average up to 4 years wages.. if its 9 now thats a 50% fall in the correction..
