Why is there not a strong expectation that Syd/Melb will mirror Toronto/Vancouver?

If one could they should, not all can.

I wouldn't wait for any external trigger and start saving and paying down the debt, remember money saved is money earned

 

Of course, agree with you. Just want to point out that not all need to sell due to high living expenses. Selling a house at loss is not easy. People will try to avoid it as much as they can.

 

Yep.. no one sell in a down market for fun, it's either fear or desperation.

What one wants and what one can are two different things.

 

Makes total sense but unfortunately can't count on the average person to be as rational as we would be. That's what worries me. People taking loans they can't afford or fudging their expenses or not switching to P&I given the interest rate discount already, these behaviours are just beyond understanding.