Background
Over the last several decades homeowners in the antipodes have enjoyed stellar increases in the values of their homes. On top of that, relatively low unemployment and good salaries have ensured that the inhabitants of Australia have enjoyed the good life.
Unfortunately, dark clouds are on the horizon in the shape of negative equity for recent home buyers and an imminent fall in the demand for Australia’s main exports; fossil fuels and mineral ores. This fall in demand will inevitably lead to a sharp decline in the value of the Australian dollar (AUD