I have to laugh at Moondoong's prediction, I mean do unemployed people not need some where to live?
People renting properties that become unemployed still need somewhere to live and the can get rent assistance on the dole so that sector is reasonably safe.
Home owners by and large have a decent about in equity, their mortgage repayments would be well under typical rents and there would be plenty of motivation not to sell. Home owners only sell PPOR as a last resort.
Interest rates are very low at the moment and indications are that mortgage holders are taking advantage of this to pay off more principle off their loans, this will provide a buffer for when rates rise.
Predictions are that population will continue to grow, that means current housing stocks will not be adequate. That is the supply demand thing.
The only thing that would drive a dramatic housing crash is a mass exodus of the population as happened in Detroit USA. There is nothing to indicate that will happen in and around our capital cities.
