I wouldn't jeopardise my cash flow by too much leverage, but if I were a cash buyer then property might be a small part of my portfolio. But not now. MUCH too early in the downward cycle.
Australia's equities are mostly reliant on commodity prices but they influence jobs. If you are bearish on Oz equities you're also bearish on the consequences i.e. Oz employment and net immigration. That will flow into housing demand - so I think a bearish view on equities lengthens the tail on the housing downturn if anything.
