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And another thing...... Sydney prices can move independently of wages because a higher proportion (than other cities) of personal income is profit based, not wages based. The recent profit reporting season has been a bit of a disappointment. You can use Macquarie Bank as a bell wether...

On another chat site a poster was the only buyer who showed up at an auction in Glebe and had an offer $200k under reserve accepted. Why can't a terrace house discounted from $1.5 mil to $1.3 mil fall a lot further? You could have my big, near new 4 br house on 1030 s/m block in a nice part...

Fair enough. :) But falling price on falling volume still doesn't look good.

So posting a chart that shows that anyone buying in SYD during the fever 0f '03 is still 50% underwater is supposed to be reassuring? You will suggest that it was unwise to buy in SYD then but I can assure you that not one bull here on SS was saying that. Trust me, I was a member here...