Huge rise in repossession

Huge rise in repossession :

"THE number of properties repossessed by banks was higher last year than after the recession of the early 1990s, as a growing number of overstretched investors were burned by Sydney's house-price slump."

This is the bit people forgot to tell other people was the final chapter in the property boom cycle. It's how the real people with money make their money. You don't complete the financial benefit of a property boom until you get to the mortgagee sales. My heart goes out to those who will lose their homes in this part of the cycle and I thank my first land agent for explaining this to me when I bought my first home. At that time the papers were full of mortgagee sales and it was a sobering experience for him as a land agent.