25 percent of economy relies on real estate . So the central bank will just have to keep lowering the rate to sustain the current property bubble what happens after the rate goes to 0? Ppl on average will pay 2 million for a house! So 3/4 of ppls income go into mortgage repayment. Maybe for banks profits otherwise I don't see how the property bubble is creating better economy for ecerday Australians . Smaller mortgage , more affordable housing, ppl buying more houses and ppl have more money to spend, boost overal economy .
