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10% of all outstanding loands, or 10% of loans written in any one year?

So do you believe a credit is contracting or not?

if non bank lenders are still gauged a higher credit risk, then the global supply of credit is still restricted. yes Australia had tighter lending criteria years ago. however house prices were a lower multiple of median wage. I cannot see house prices sustained at current levels if we move...

- why are non bank lenders still exiting the market? - current property prices are at levels that required loose credit. Credit continues to tighten via lo doc availability and conditions (lower LVRs), more conservative property valuation/revaluations, mortgage insurer risk analysis, post code...

I mean the credit crisis that is causing the world economy to slow at an unprecedented rate, not the unfolding local tightening of credit. In the 50s,60s,70s, and 80s, median prices weren't 6-9x the median wage.

Considering many think the world is going through an economic crisis unseen since the 1930's, it would be interesting to hear Ian and Jan Somers perspective on property investment now and into the near future. If I read their books properly, their mantra is buy when you can afford to and hold...