Things are going to get worse, so if you've got some spare cash or looking to buy property you're in good shape because there's still s**tloads of debt out there that's going to drive lots of punters to the wall. I shifted 50% of my superannuation into cash 2 years ago after reading about the subprime drama that was unfolding.
I've been astounded at the easy credit and the way suckers speculated on property for the last few years.
Now it's payback time.