With the RBA indicating that they could become the lender of last resort to housing the market the other week and now this, shows how the housing bubble has effectively got monetary rates by the balls. This was a given years ago. Pensioners and safe savers have been taken to cleaners by this housing bubble. Is there another instalment to come , maybe a collapse or two. I expect panic to start taking hold, and prices to start dropping quicker. Home buyers should stay out as long as possible as prices will continue to drop well into next year and beyond.
House prices are dropping well ahead of a tightening monetary policy cycle, complicating the RBA's efforts to escape rates at "emergency" levels
australian property index, page-19
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