In a courageous attempt to support E@L's thesis from the other day, The Age newspaper from Melbourne, Australia, has chipped in with this disheartening article:
Households struggling to pay bills
October 24, 2011
E@L made an attempt to purchase two apartments in Queensland with the goal of "flipping" one of them. These were short-term serviced apartments, though, not family housing. Anyway thanks to the flat market in Queensland, they failed to materialise and E@L received his deposits back (plus interest).