And remember, refinancing debt doesn't make it disappear, in-fact most times it means it hangs around longer.

I would say it is the difference between property Investors and property Traders. Investors have a long term focus and traders try to 'pick the market'.One thing for sure is that the availability of credit will be a big factor in the performance of the property market in the next 36 – 60 months.

I second Luke and Jamie's comments on rental guarantee's.These costs are always built into the property in some way. I was offered recently a developer property that had $50k (yes you read it right) commision in it and a rental guarantee. The only way to have the ability to fund this is to build it into the price.