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Rogue, How would you explain the following then in relation to the ability of house prices to continue to grow in value over the long term: 1) The multitude of people who earn well in excess of the average wage and their ability and willingness to service much higher loans than an average...

Perhaps the above would be better phrased as "Not admitting that you may have made a mistake and refusing to learn from the experience is the practice of the foolish."

Yes, this is very true. Some sellers may end up with -ve equity, and that is not an enviable situation to be in. :eek:

Good post rambada. I would be interested to gain Ian Somer's thoughts on the latest trembles in the financial markets. I know that in last months API Jan Somers mentioned that she has heard the doom and gloom regarding the property market in previous cycles. Over time the market had then...