A report from Bloomberg on Australia. "With Sydney's property market now falling 11.1 per cent in its sharpest downturn since the 1980s - a trend mirrored nationwide - the shift toward high-rise apartments risks a further leg down in a real-estate crash that's starting to threaten the economy."

"Towers planned five years ago when the market was red-hot may just be taking the scaffolding down now, at a time when things are looking dicey. Making matters worse, developers of large apartment complexes inevitably hold a lot of inventory, so are strongly motivated to sell. If prices come in too low, they can wind up reducing the price of the whole block."

"That's reason to think worse is to come for our housing market. It's little wonder that apartments are resold at a loss more commonly than houses in every capital city: Nearly 30 per cent of unit re-sales in Brisbane came in at a loss in the September quarter, according to CoreLogic."

"We're getting perilously close to the point where this housing correction turns disorderly. Fasten your seat belts."

The Daily Telegraph. "Apartments owners in the Opal Tower looking to sell have been left in limbo as ambitious buyers submit offers as low as $1 or shun the building all together. Listing agent Du Yang of SY Realty, who also owns an apartment in the building, said selling the units had now become an almost impossible task."

"Mr Yang receiving an offer of just $1. 'Considering all the controversy lately how about I make you a deal? $1, take it or leave it,' the email read. As an owner in the building, Mr Yang said the experience had left him unable to sleep. He has so far received no compensation, and like other landlords, is likely to struggle to find tenants or offload his investment for even close to what was originally paid."

"Mr Yang said he would likely have to stump up the mortgage out of his own pocket, as well as paying a mortgage on his own home. 'This was meant to be the Australian dream and now it has become the Australian nightmare,' he said. 'I won’t buy anything in Sydney ever again.'"

From ABC News. "In yet more data confirming Sydney's much-publicised price fall, REA Group, the owner of realestate.com.au, said 'middle priced suburbs' in the harbour city were set to feel the rapid housing price fall the hardest this year."

"REA Group chief economist Nerida Conisbee said although forecasts would need to be reset after the upcoming Federal election, the price pain for Sydney homeowners was set to continue in the foreseeable future. 'We are still seeing a pretty big drop in views per listing in Sydney,' she said. 'Right now, middle priced suburbs are suffering the most. And that impact in sentiment doesn't seem to be shifting.'"

"According to REA data recorded for large NSW regions and shires, ydney's Sutherland Shire, which takes in suburbs such as Cronulla and Sylvania, has been the hardest hit, recording an 8.9 per cent price drop over the past year. The Shire's drop was followed by Paramatta (-8 per cent), Baulkham Hills and Hawkesbury (-7 per cent) and Sydney city and inner south (-7 per cent)."