At some point our Federal government must face the harsh reality of the situation, and make the hard decisions. What you have said in your blog, I too have been telling people.

However, the real estate industry needs to work at educating the banks on selling properties. The banks have a marketing policy of being the lowested price property on the market to move the assett. This in turn creates a death spiral and keeps buyers on the sideline waiting for values to drop even more. So that is why we need to do our job and help change that marketing philosphy of the banks.

Good blog

Charlie Fraser