Based in Victoria I see the state of the state which is not great. Cutting out departments, selling assets at fire sale prices and i dont want to get started on how we got here. The storm clouds are gathering and could impact the Nation, although not front page news, we have areas where average people are living seeing house price declines of 15 to 20 %, now that is a heavy equity hit to the people in these areas. I'm sure they are now thinking how did i get here (all made sense at 2 % interest rates) and what do I do now. A lot more people are working two jobs just to keep pace with all the bills.

Working for a big retailer we see the switch by lots of people to cheaper brands daily (sign of the Cost of living crunch) and now i think seeing these housing price drops the multi headed hydra of fear may begin creeping out and warming up for a quick sprint down the hill of reverse snowballs taking everything with it in its sight that resembles valuations of current share prices

Now conversely right now we see the banks keep hitting all time highs, whilst their main assets lenders backed by house prices (not the bricks and sticks) going the other way. I know this is not financial analysis but a lot of the world is based on emotion and illogical thinking. The good times are coming to an end in Vic and the shock will be felt nationally. I'm an optimist by nature but the current housing price numbers are not providing a good feeling on asset prices at the moment.

Would love to here other people's view of the banks and housing situation at the moment.