Derryn Hinch tells millennials that owning a home is a dream, not a right, page-44

The only way house prices are falling in Sydney is if we have a recession...something that hasn't happened for 26 years. We missed the recession around 2000 because consumer credit was still expanding rapidly in Australia at that time which kept people spending. We missed the 2009 recession on the back of stimulus spending here and in China. If there's another shock it's hard to see where our insurance comes from. We have the most indebted consumers in the world. Our government can't make meaningful spending measures because the budget hasn't been repaired. It's unlikely China can be a saviour because they're likely to be the source of the problem: Their capital intensive economic model is building government debt for ever decreasing returns. The best hope for Australians living in major cities who aren't in the housing market is a savage recession which produces those minus 20-30% house price outcomes you refer too...so long as they don't lose their own jobs.

Reaper.