tag:blogger.com,1999:blog-16601705.post4858017847381315543..comments2022-10-08T17:04:16.269+11:00Comments on Housing Affordability, The Great Real Estate Rip-Off, and Entrenched Government Failures: Credit squeeze hits Aussie banksUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-16601705.post-6784546259018565192007-11-19T08:04:00.000+11:002007-11-19T08:04:00.000+11:00Yes, I agree.Yes, I agree.Housing Affordabilityhttps://www.blogger.com/profile/17091467840417793857noreply@blogger.comtag:blogger.com,1999:blog-16601705.post-75785028648134253322007-09-16T18:01:00.000+10:002007-09-16T18:01:00.000+10:00Banks and other lenders get a valuation of the pro...Banks and other lenders get a valuation of the property they hold as collateral which is supposed to protect the lender in the event of a default. And all this valuer does is tell you that another house around the corner is also completely disconnected from fundamentals and highly overvalued. The banks and those they sold the risk on to will be hurt badly when it falls over the dumb politicians and their agencies (APRA) will only then wake up. It will be like the rushing in of new laws after Worldcom, Enron, etc. Politicians all over the world are too lazy or too stupid to do it in advance of the problem and then go into overkill afterwards.Anonymousnoreply@blogger.com