House prices. From my previous experience in similar times it's forced sellers and foreclosures that put houses to market. The rest of us withdraw stock and snap up bargains. So it could be tough times for real estate agents, if as I expect, listings decline markedly. In the shorter term banks will let those customers who are in stress but worthy of risk capitalise their interest payments.
In the longer term I'd expect that the era of low interest rates coupled with the RBA creating extra money will lead to asset inflation and further increases in house prices. Making them even more unaffordable to new entrants.
