With TEAM AUSTRALIA'S resident property expert 
In Australia: A trickle of poor consumer sentiment data is turning into an avalanche! (Link below)
COMMUNITY NEWS is happy to report all news - good and bad. What we try not to report is BS! And when we continue to hear stories about how great the Sydney property market is and how 12%pa growth will go on forever - we first think... great for who? Followed by - smells like BS!
So the team at COMMUNITY NEWS found it somewhat refreshing on Monday night, when the hard hitting journalists at FOUR CORNERS took a look at our property bubbles and actually reported on the devastating affects these are having on ordinary Australians.
"You're effectively toast if you lose your job or the main breadwinner does. That's the point of fragility that we're at now."
Furthermore, the program looked at the aggressive lending practices within the banking system. These practices have been responsible with many years of loose credit, which in turn has pushed property prices to astronomical levels.
Gone are the days when the banks would lend 3-4 times your annual salary - now they are lending 7-8 times. And if it looks like you really can't afford it - don't worry, the brokers have been known to fudge your numbers to get you over the line.
A quote which summed up the theme of the program was:
"I've been studying the market here for a good number of years and I have never seen this perfect storm of issues coming together."
'Betting on the house: Australia's real estate obsession driving us to the brink' was the name. A link to the 43 minute report is below - if interested.
If you simply want our take on the report - we agree that the market is a "powder keg", yet we do not know when it will explode.
However, we would simply ask you, to ask yourself, this one simple question:
'Do you want to be a slave to your debt?'
If the answer is 'NO' - Don't sign your life away!!
THE EDITOR
COMMUNITY NEWS: https://steemit.com/australia/@communitynews/in-australia-a-trickle-of-poor-consumer-sentiment-data-is-turning-into-an-avalanche
FOUR CORNER: http://www.abc.net.au/4corners/stories/2017/08/21/4719901.htm
Video: http://mpegmedia.abc.net.au/news/fourcorners/video/NC1704H028S00MA2D1_512x288.mp4
Image: https://www.itphomeloans.com.au/help-im-mortgage-stress/