It always end in tears for the majority Stephen. Such is life. This being said - a knock down job on 600 sqm block down the road from @sirknight's; no water or park views etc went for $1.6 million a couple of weeks back - we reckon the vendor would have been knocking back champagne by the case load for the next week.
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Just like crypto when the demand dries up and people get desperate the prices tumble.